Key Points
- Intercontinental Exchange General Counsel Andrew Surdykowski sold 4,573 shares on May 26 at an average price of $151.56, totaling about $693,084. After the sale, he still held 45,473 shares valued at roughly $6.89 million.
- ICE reported strong first-quarter results, with EPS of $2.35 beating estimates of $2.23 and revenue of $3.67 billion well above expectations. Quarterly revenue also rose 20.4% year over year.
- Wall Street remains broadly bullish on ICE, with a consensus rating of “Buy” and an average price target of $194.60. Recent firms including Piper Sandler, Barclays, and Deutsche Bank either reiterated positive ratings or raised targets.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) General Counsel Andrew Surdykowski sold 4,573 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares of the company's stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Intercontinental Exchange Stock Performance
NYSE:ICE opened at $147.93 on Friday. The company has a fifty day simple moving average of $157.56 and a two-hundred day simple moving average of $160.16. The company has a market cap of $83.66 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company's quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 earnings per share. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms recently commented on ICE. Piper Sandler reissued an "overweight" rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. TD Cowen reissued a "buy" rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price on the stock in a report on Friday, March 6th. Barclays reissued 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. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. One research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $194.60.
Get Our Latest Analysis on Intercontinental Exchange
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. ICONIQ Capital LLC boosted its holdings 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 worth $481,000 after buying an additional 56 shares during the period. Mechanics Financial Corp boosted its holdings in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock worth $994,000 after buying an additional 60 shares during the period. Mission Wealth Management LP boosted its holdings in shares of Intercontinental Exchange by 2.4% during 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 during the period. Aaron Wealth Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock worth $548,000 after buying an additional 63 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock worth $681,000 after buying an additional 63 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.
Intercontinental Exchange Company Profile
(
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.
Further Reading
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