Intercontinental Exchange (NYSE:ICE) CFO Sells 2,491 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the sale, the chief financial officer owned 22,698 shares in the company, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Intercontinental Exchange Price Performance

ICE stock traded up $2.68 during trading on Friday, reaching $161.29. 3,665,172 shares of the company were exchanged, compared to its average volume of 3,994,677. The company has a market capitalization of $90.55 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.55 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. The company has a 50-day moving average of $141.92 and a two-hundred day moving average of $151.63. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion for 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 company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.81 earnings per share. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ICE. Brighton Jones LLC increased its position in shares of Intercontinental Exchange by 51.3% during the fourth 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 period. Empowered Funds LLC lifted its holdings in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 1,189 shares during the period. Sivia Capital Partners LLC boosted its position in Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after acquiring an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after acquiring an additional 6,373 shares during the period. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Barclays reissued an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. UBS Group restated a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Morgan Stanley lowered their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $183.33.

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.