Key Points
- ICE CTO Mayur Kapani sold 4,271 shares at an average price of $151.20, generating $645,775.20; his remaining direct stake is 67,988 shares.
- Intercontinental Exchange reported quarterly EPS of $1.90, beating estimates of $1.84, while revenue reached $3.61 billion and increased 4.8% year over year.
- Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $183.33; institutional investors own 89.3% of shares.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the sale, the chief technology officer directly owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Intercontinental Exchange Price Performance
Shares of ICE opened at $154.55 on Friday. The firm has a market capitalization of $86.76 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.53 and a beta of 0.92. The firm's fifty day simple moving average is $140.59 and its 200-day simple moving average is $152.26. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $182.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Equities analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider's stock valued at $8,770,647,000 after buying an additional 413,639 shares during the last quarter. J. Stern & Co. LLP boosted its holdings in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock valued at $8,763,214,000 after acquiring an additional 53,798,055 shares during the period. BlackRock Inc. purchased a new position in shares of Intercontinental Exchange during the second quarter worth approximately $6,245,085,000. State Street Corp increased its holdings in shares of Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider's stock valued at $4,154,914,000 after acquiring an additional 837,208 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider's stock valued at $2,571,212,000 after acquiring an additional 158,450 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.
Analyst Upgrades and Downgrades
ICE has been the subject of several analyst reports. Barclays reaffirmed an "overweight" rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research note on Monday, July 6th. Piper Sandler dropped their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings cut shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday. Finally, The Goldman Sachs Group lowered their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $183.33.
Get Our Latest Stock Analysis on Intercontinental Exchange
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.
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