Edgestream Partners L.P. Buys New Stake in Intercontinental Exchange Inc. $ICE

Edgestream Partners L.P. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,075 shares of the financial services provider’s stock, valued at approximately $1,742,000.

A number of other institutional investors also recently made changes to their positions in the stock. ICONIQ Capital LLC boosted its stake in shares of Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Mechanics Financial Corp raised its stake in Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after purchasing an additional 60 shares during the last quarter. Mission Wealth Management LP raised its stake in Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in Intercontinental Exchange by 1.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 63 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ICE shares. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday. Piper Sandler reduced their price objective 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. UBS Group restated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. Finally, Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $183.33.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $151.97 on Tuesday. The stock’s 50-day moving average is $139.46 and its 200-day moving average is $153.50. The company has a market cap of $85.32 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 1.86 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’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 earnings per share. Equities analysts anticipate that Intercontinental Exchange Inc. will post 7.98 earnings per share for the current year.

About Intercontinental Exchange

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.