Insider Selling: Intercontinental Exchange (NYSE:ICE) SVP Sells $256,000.00 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the sale, the senior vice president owned 17,463 shares of the company’s stock, valued at approximately $2,794,080. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, August 5th, Douglas Foley sold 7,300 shares of Intercontinental Exchange stock. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00.

Intercontinental Exchange Stock Up 1.0%

Shares of ICE traded up $1.64 during midday trading on Monday, hitting $162.89. 3,123,597 shares of the company’s stock traded hands, compared to its average volume of 3,989,276. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.65. The firm’s fifty day moving average is $142.34 and its 200-day moving average is $151.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $91.45 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the firm earned $1.81 EPS. The business’s quarterly revenue 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.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ICE. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Piper Sandler dropped their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group cut their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $183.33.

Institutional Trading of Intercontinental Exchange

Several large investors have recently added to or reduced their stakes in the company. ICONIQ Capital LLC lifted its stake in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares in the last quarter. Mission Wealth Management LP increased its stake in Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after buying an additional 62 shares in the last quarter. Johnson Financial Group LLC raised its holdings in Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 65 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of Intercontinental Exchange by 33.5% in the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 68 shares in the last quarter. Finally, Burns J W & Co. Inc. NY lifted its position in shares of Intercontinental Exchange by 0.6% in the first quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company 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.