Intercontinental Exchange (NYSE:ICE) SVP Douglas Foley Sells 1,600 Shares

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president owned 15,863 shares of the company’s stock, valued at approximately $2,538,080. This represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Douglas Foley also recently made the following trade(s):

• On Thursday, August 20th, Douglas Foley sold 1,600 shares of Intercontinental Exchange stock. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00.
• On Wednesday, August 5th, Douglas Foley sold 7,300 shares of Intercontinental Exchange stock. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00.

Intercontinental Exchange Stock Down 1.9%

Shares of NYSE ICE opened at $153.99 on Thursday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $176.05. The firm’s 50 day moving average price is $152.34 and its 200 day moving average price is $151.67. The firm has a market cap of $86.45 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the company earned $1.81 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on ICE. Piper Sandler dropped their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. UBS Group restated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. Finally, Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $184.17.

Institutional Trading of Intercontinental Exchange

A number of institutional investors have recently added to or reduced their stakes in ICE. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $30,000. Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $26,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Intercontinental Exchange by 71.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 244 shares of the financial services provider’s stock valued at $40,000 after buying an additional 102 shares in the last quarter. Finally, Gables Capital Management Inc. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.