Intercontinental Exchange (NYSE:ICE) General Counsel Andrew Surdykowski Sells 4,574 Shares

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,574 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the completion of the sale, the general counsel owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $162.46 on Friday. The firm’s 50-day moving average is $144.90 and its two-hundred day moving average is $151.50. The company has a market capitalization of $91.20 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.57 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 $177.76.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS 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 analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ICE. TD Cowen reiterated a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. 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 report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group reiterated a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Barclays reissued an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One 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. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently modified their holdings of ICE. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $25,000. Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange during the second quarter worth about $26,000. Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange during the fourth quarter worth about $28,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $30,000. Hedge funds and other institutional investors 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.