Key Points
- ICE CTO Mayur Kapani sold 4,271 shares on May 14 at an average price of $155.42, totaling about $663,799. After the sale, he still held 64,869 shares worth roughly $10.08 million.
- The transaction cut Kapani’s ownership by 6.18%, and the filing notes he had also sold 15,213 shares earlier in February.
- Despite insider selling, Intercontinental Exchange recently posted better-than-expected earnings of $2.35 per share and revenue of $3.67 billion, while Wall Street analysts maintain a Buy consensus with an average price target of $194.10.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Mayur Kapani also recently made the following trade(s):
- On Wednesday, February 18th, Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock. The stock was sold at an average price of $155.02, for a total value of $2,358,319.26.
Intercontinental Exchange Stock Performance
NYSE:ICE opened at $156.08 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The stock's 50 day simple moving average is $159.10 and its two-hundred day simple moving average is $159.93. The company has a market cap of $88.26 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.43 and a beta of 0.96.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company posted $1.72 EPS. The company's revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
ICE has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 target price on the stock. Barclays restated an "overweight" rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Piper Sandler reissued an "overweight" rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of "Buy" and an average price target of $194.10.
Check Out Our Latest Stock Analysis on Intercontinental Exchange
Hedge Funds Weigh In On Intercontinental Exchange
Several hedge funds have recently added to or reduced their stakes in the company. ICONIQ Capital LLC grew its position in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Mechanics Financial Corp grew its position in Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock valued at $994,000 after acquiring an additional 60 shares during the last quarter. Mission Wealth Management LP grew its position 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 valued at $423,000 after acquiring an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC grew its position in Intercontinental Exchange by 1.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock valued at $548,000 after acquiring an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $681,000 after acquiring an additional 63 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.
About Intercontinental Exchange
(
Get Free Report)
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.
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