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 business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the transaction, the senior vice president owned 15,863 shares in the company, valued at approximately $2,538,080. This represents a 9.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, August 20th, Douglas Foley sold 1,600 shares of Intercontinental Exchange stock. The shares were sold at an average price of $160.00, for a total value of $256,000.00.
• On Wednesday, August 5th, Douglas Foley sold 7,300 shares of Intercontinental Exchange stock. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00.

Intercontinental Exchange Stock Up 1.4%

Shares of NYSE:ICE opened at $155.48 on Friday. The company has a market capitalization of $87.28 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.49 and a beta of 0.93. The company has a 50 day moving average of $153.12 and a two-hundred day moving average of $151.62. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.05. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share 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 during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ICE shares. Raymond James Financial reiterated a “strong-buy” rating and set a $218.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, September 1st. The Goldman Sachs Group reduced their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Finally, Morgan Stanley cut their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $184.17.

Institutional Trading of Intercontinental Exchange

Institutional investors and hedge funds have recently modified their holdings of the business. J. Stern & Co. LLP grew 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 during the last quarter. BlackRock Inc. bought a new position in Intercontinental Exchange in the second quarter worth about $6,245,085,000. State Street Corp lifted its holdings in Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after acquiring an additional 837,208 shares during the last quarter. Wellington Management Group LLP boosted its stake in Intercontinental Exchange by 16.1% in the second quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock valued at $1,454,209,000 after acquiring an additional 1,634,385 shares during the period. Finally, Norges Bank acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $1,418,228,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.