Intercontinental Exchange Inc. $ICE Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,798 shares of the financial services provider’s stock after selling 230 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Intercontinental Exchange were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Brighton Jones LLC increased its holdings in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Intercontinental Exchange by 42.0% during the 1st quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock worth $2,265,000 after buying an additional 3,883 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Intercontinental Exchange by 12.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock worth $6,067,000 after buying an additional 3,760 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Intercontinental Exchange by 66.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 584 shares of the financial services provider’s stock worth $101,000 after buying an additional 234 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Intercontinental Exchange by 32.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,751 shares of the financial services provider’s stock worth $5,650,000 after buying an additional 8,077 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $156.88 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $169.23 and a two-hundred day moving average of $173.34. The stock has a market cap of $89.80 billion, a P/E ratio of 30.11, a PEG ratio of 2.19 and a beta of 1.08. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 EPS. On average, research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. This represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,956 shares of company stock worth $43,789,542 over the last quarter. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Morgan Stanley lowered their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Finally, Barclays reiterated an “overweight” rating and issued a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.60.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.