Key Points
- Intercontinental Exchange SVP Douglas Foley sold 7,300 shares at an average price of $148.88, generating approximately $1.09 million. His remaining direct ownership fell 27.69% to 19,063 shares.
- ICE reported quarterly EPS of $1.90, beating the $1.84 consensus estimate, while revenue reached $3.61 billion and increased 4.8% year over year.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $183.33 versus the stock’s $150.35 opening price; institutional investors own 89.3% of the shares.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) SVP Douglas Foley sold 7,300 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the transaction, the senior vice president directly owned 19,063 shares of the company's stock, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Intercontinental Exchange Trading Up 0.4%
Shares of ICE stock opened at $150.35 on Friday. The company's fifty day simple moving average is $139.52 and its two-hundred day simple moving average is $152.97. 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 $121.79 and a 1 year high of $189.35. The stock has a market capitalization of $84.40 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.48 and a beta of 0.92.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the business posted $1.81 earnings per share. The business's quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have commented on the company. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. Wall Street Zen cut Intercontinental Exchange from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Piper Sandler lowered their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. UBS Group restated a "buy" rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, TD Cowen reaffirmed a "buy" rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $183.33.
Check Out Our Latest Stock Report on Intercontinental Exchange
Hedge Funds Weigh In On Intercontinental Exchange
A number of institutional investors have recently added to or reduced their stakes in ICE. ICONIQ Capital LLC boosted its holdings in shares of Intercontinental Exchange by 2.2% in the second 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 period. Mechanics Financial Corp increased its holdings in shares of 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 period. Mission Wealth Management LP increased its holdings in shares of 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 period. Aaron Wealth Advisors LLC raised 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 purchasing an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC raised 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 purchasing an additional 63 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.
Intercontinental Exchange Company Profile
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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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