Dockside LLC Invests $2.93 Million in Intercontinental Exchange Inc. $ICE

Dockside LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,102 shares of the financial services provider’s stock, valued at approximately $2,932,000.

Other large investors also recently made changes to their positions in the company. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $25,000. Dorato Capital Management bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $29,000. Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Steph & Co. increased its stake in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. Finally, Holos Integrated Wealth LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,092 shares of company stock worth $1,860,424 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $140.26 on Friday. The stock’s fifty day moving average price is $154.22 and its two-hundred day moving average price is $159.27. Intercontinental Exchange Inc. has a one year low of $136.67 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $79.32 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the company earned $1.72 EPS. The company’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ICE. Piper Sandler reiterated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. UBS Group reiterated a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, Weiss Ratings lowered Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Intercontinental Exchange Profile

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.