Key Points
- ICE CFO Warren Gardiner sold 2,490 shares on May 19 at an average price of $156.64, totaling about $390,034. After the sale, he still held 25,189 shares, and the transaction reduced his position by 9%.
- Intercontinental Exchange reported strong first-quarter results, with EPS of $2.35 beating estimates of $2.23 and revenue of $3.67 billion topping forecasts. Revenue rose 20.4% year over year, and the company posted a net margin of 30.06%.
- Analysts remain broadly positive on ICE, with a consensus rating of “Buy” and an average price target of $194.60. Barclays and Piper Sandler both reiterated overweight ratings, while Deutsche Bank upgraded the stock to buy.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Warren Gardiner also recently made the following trade(s):
- On Thursday, February 19th, Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock. The shares were sold at an average price of $154.00, for a total value of $383,460.00.
Intercontinental Exchange Trading Down 1.6%
Shares of NYSE:ICE opened at $151.61 on Thursday. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The firm has a market capitalization of $85.74 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The business's 50 day moving average price is $158.58 and its 200-day moving average price is $159.98.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm posted $1.72 EPS. The business's revenue was up 20.4% on a year-over-year basis. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.
Institutional Trading of Intercontinental Exchange
A number of hedge funds and other institutional investors have recently modified their holdings of ICE. Brighton Jones LLC increased its stake in shares of Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after acquiring an additional 1,169 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock worth $2,483,000 after acquiring an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock worth $381,000 after acquiring an additional 289 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock worth $3,892,000 after acquiring an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Intercontinental Exchange by 2.4% in 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 acquiring an additional 6,373 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Barclays reiterated an "overweight" rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Weiss Ratings downgraded Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Morgan Stanley increased their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Piper Sandler reissued an "overweight" rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Buy" and an average price target of $194.60.
Read Our Latest Research Report on ICE
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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