Metis Global Partners LLC Sells 2,288 Shares of Intercontinental Exchange Inc. $ICE

Metis Global Partners LLC cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,487 shares of the financial services provider’s stock after selling 2,288 shares during the quarter. Metis Global Partners LLC’s holdings in Intercontinental Exchange were worth $6,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at about $28,000. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange in the 2nd quarter worth about $29,000. Activest Wealth Management boosted its holdings in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the period. Hilltop National Bank bought a new stake in Intercontinental Exchange in the 2nd quarter valued at about $31,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ICE. Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Barclays set a $183.00 price objective on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, TD Cowen cut their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.82.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $148.93 on Friday. The firm’s fifty day moving average price is $162.47 and its two-hundred day moving average price is $173.02. The stock has a market cap of $84.92 billion, a PE ratio of 28.59, a PEG ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the business posted $1.55 EPS. Intercontinental Exchange’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity

In related news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.