AXQ Capital LP Has $1.02 Million Stock Position in Intercontinental Exchange Inc. $ICE

AXQ Capital LP grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 206.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,285 shares of the financial services provider’s stock after buying an additional 4,237 shares during the quarter. AXQ Capital LP’s holdings in Intercontinental Exchange were worth $1,018,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after purchasing an additional 6,373 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ICE shares. Morgan Stanley boosted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $194.60.

Intercontinental Exchange Trading Down 1.7%

ICE stock opened at $142.53 on Wednesday. The firm has a market cap of $80.60 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.39 and a beta of 0.92. Intercontinental Exchange Inc. has a 1-year low of $136.67 and a 1-year high of $189.35. The business’s 50 day moving average is $157.12 and its 200-day moving average is $160.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company posted $1.72 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,001 shares of company stock worth $1,847,820 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.