Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by CX Institutional

CX Institutional lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 83.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,798 shares of the financial services provider’s stock after selling 19,739 shares during the quarter. CX Institutional’s holdings in Intercontinental Exchange were worth $610,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Annapolis Financial Services LLC increased its holdings in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the period. New Millennium Group LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter worth $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange during the second quarter worth $25,000. Fairscale Capital LLC acquired a new position in Intercontinental Exchange during the second quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Intercontinental Exchange in the first quarter valued at $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,532 shares of company stock valued at $1,358,709 in the last 90 days. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ICE shares. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Bank of America boosted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research report on Monday. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $170.67.

Intercontinental Exchange Trading Down 0.0 %

Shares of Intercontinental Exchange stock opened at $165.13 on Thursday. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $167.23. The firm’s 50-day moving average price is $160.08 and its 200 day moving average price is $145.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $94.72 billion, a PE ratio of 37.87, a P/E/G ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.08 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.