Intercontinental Exchange (NYSE:ICE) Director Martha Tirinnanzi Sells 141 Shares

Intercontinental Exchange Inc. (NYSE:ICE) Director Martha Tirinnanzi sold 141 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $155.00, for a total transaction of $21,855.00. Following the completion of the transaction, the director owned 5,087 shares in the company, valued at $788,485. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $154.62 on Tuesday. 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 business has a 50 day simple moving average of $140.90 and a 200-day simple moving average of $151.97. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $181.72. The stock has a market capitalization of $86.80 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the business earned $1.81 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts predict that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ICE shares. TD Cowen reissued a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler dropped their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. The Goldman Sachs Group reduced their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Barclays restated an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Institutional Investors Weigh In On Intercontinental Exchange

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the period. Empowered Funds LLC grew its stake in Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares during the period. Sivia Capital Partners LLC increased its position in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 289 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after acquiring an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after acquiring an additional 6,373 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.