Key Points
- CTO Mayur Kapani sold 4,272 Intercontinental Exchange shares at an average price of $179.05, totaling about $764,902. He retained 69,480 shares after the sale.
- ICE’s latest quarterly results beat analyst expectations: earnings were $2.02 per share versus a $1.97 estimate, while revenue rose 14.7% year over year to $3.63 billion.
- Analysts hold a consensus “Moderate Buy” rating, with an average price target of $189.25; shares recently traded at $178.43.
Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CTO Mayur Kapani sold 4,272 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $179.05, for a total value of $764,901.60. Following the completion of the transaction, the chief technology officer owned 69,480 shares of the company's stock, valued at $12,440,394. The trade was a 5.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Intercontinental Exchange Price Performance
Shares of NYSE ICE traded up $0.57 during mid-day trading on Friday, hitting $178.43. 2,203,731 shares of the stock traded hands, compared to its average volume of 3,534,859. The company has a market cap of $99.72 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $160.31 and a two-hundred day simple moving average of $154.73.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.05. The business had revenue of $3.63 billion during the quarter, compared to analysts' expectations of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.71 EPS. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $26,000. Gables Capital Management Inc. acquired a new position in shares of Intercontinental Exchange in the second quarter worth approximately $31,000. James T. Borello RIA lifted its stake in shares of Intercontinental Exchange by 143.0% in the third quarter. James T. Borello RIA now owns 209 shares of the financial services provider's stock worth $32,000 after acquiring an additional 123 shares during the period. Hughes Financial Services LLC boosted its holdings in Intercontinental Exchange by 64.4% in the third quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 76 shares during the last quarter. Finally, Fiduciary Financial Advisors bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $33,000. 89.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on ICE shares. The Goldman Sachs Group upped their price objective on Intercontinental Exchange from $192.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, October 2nd. Rothschild & Co Redburn lifted their target price on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. Argus reduced their target price on shares of Intercontinental Exchange from $190.00 to $187.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the stock an "outperform" rating in a report on Friday, October 30th. Finally, Barclays upped their price target on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $189.25.
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Intercontinental Exchange Company Profile
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Get Free Report)
Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.
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