Insider Selling: Intercontinental Exchange (NYSE:ICE) SVP Sells $256,000.00 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 17,463 shares in the company, valued at approximately $2,794,080. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Douglas Foley also recently made the following trade(s):

• On Wednesday, August 5th, Douglas Foley sold 7,300 shares of Intercontinental Exchange stock. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00.

Intercontinental Exchange Stock Up 0.1%

Intercontinental Exchange stock opened at $162.01 on Thursday. The business’s 50-day simple moving average is $143.78 and its two-hundred day simple moving average is $151.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $90.95 billion, a PE ratio of 22.88, a PEG ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $179.20.

Intercontinental Exchange (NYSE:ICE) last announced 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. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period last year, the business posted $1.81 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on ICE. UBS Group restated a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. TD Cowen reaffirmed a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Hedge Funds Weigh In On Intercontinental Exchange

A number of large investors have recently bought and sold shares of ICE. California State Teachers Retirement System raised its stake in shares of Intercontinental Exchange by 11,968.7% during the 2nd quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock worth $13,342,784,000 after buying an additional 107,482,962 shares during the period. J. Stern & Co. LLP lifted its position in shares of Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after buying an additional 53,798,055 shares in the last quarter. BlackRock Inc. acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at $6,245,085,000. Norges Bank purchased a new stake in Intercontinental Exchange in the 4th quarter worth $1,418,228,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Intercontinental Exchange in the 2nd quarter worth $714,869,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.