Key Points
- Director Martha Tirinnanzi sold 141 Intercontinental Exchange shares at an average price of $155, generating $21,855 and reducing her position by 2.7% to 5,087 shares.
- Intercontinental Exchange reported quarterly EPS of $1.90, exceeding the $1.84 consensus estimate, while revenue reached $3.61 billion and increased 4.8% year over year.
- Analysts maintain a “Moderate Buy” consensus rating with an average price target of $183.33; institutional investors and hedge funds own 89.3% of the stock.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) Director Martha Tirinnanzi sold 141 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $155.00, for a total value of $21,855.00. Following the completion of the sale, the director directly owned 5,087 shares of the company's stock, valued at $788,485. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Intercontinental Exchange Stock Performance
Shares of NYSE:ICE opened at $154.62 on Tuesday. The company has a market cap of $86.80 billion, a P/E ratio of 21.84, a PEG ratio of 1.52 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.72. The business's 50-day simple moving average is $140.90 and its 200 day simple moving average is $151.97.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share 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 analysts' expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler lowered their target price on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a research note on Wednesday, July 15th. Wall Street Zen lowered Intercontinental Exchange from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Morgan Stanley cut their price target on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a research note on Friday, July 10th. Finally, UBS Group restated a "buy" rating and set a $195.00 price objective (up from $190.00) 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and a consensus target price of $183.33.
Get Our Latest Analysis on Intercontinental Exchange
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth about $25,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange in the fourth quarter valued at about $28,000. Swiss RE Ltd. acquired a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Lloyd Advisory Services LLC. bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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