R Squared Ltd Sells 8,552 Shares of Intercontinental Exchange Inc. $ICE

R Squared Ltd lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 61.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,437 shares of the financial services provider’s stock after selling 8,552 shares during the period. R Squared Ltd’s holdings in Intercontinental Exchange were worth $827,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ICE. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $714,869,000. Flossbach Von Storch SE acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $649,900,000. Bank of America Corp DE purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $521,557,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $474,012,000. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Argus decreased their target price on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a report on Friday, August 14th. Barclays raised their target price on shares of Intercontinental Exchange from $189.00 to $194.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Finally, Rothschild & Co Redburn boosted their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.25.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $177.80 on Friday. The stock has a market cap of $99.36 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.84. The business has a fifty day simple moving average of $160.03 and a 200-day simple moving average of $154.71. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $181.38.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. Intercontinental Exchange’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 earnings per share. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.21 EPS for the current fiscal year.

Intercontinental Exchange News Summary

Here’s some of the latest news about ICE:

• Positive Sentiment: ICE and OKX plan to launch OKXICE, a 24/7 venue for eligible U.S. customers to trade tokenized versions of more than 70 assets starting Nov. 23. The initiative could open a new trading channel and broaden ICE’s reach, though adoption and execution remain to be seen. Article: NYSE Affiliate to Launch 24/7 Tokenized Stock Trading This Month
• Positive Sentiment: Analysts’ consensus price target is $189.25, above the quoted share price of $177.80, indicating potential upside in their forecasts. Article: ICE Stock Has Consensus Price Target of $189.25
• Negative Sentiment: Two insiders reported stock sales: General Counsel Andrew Surdykowski sold 4,575 shares for about $801,000, reducing his holdings by 10.14%; Director Sharon Bowen sold 2,100 shares for about $366,000, reducing hers by 13.93%. The sales could create a modest negative sentiment signal, although both retained shares. SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew Surdykowski sold 4,575 shares of Intercontinental Exchange stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $175.05, for a total transaction of $800,853.75. Following the transaction, the general counsel owned 40,554 shares of the company’s stock, valued at $7,098,977.70. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Elizabeth King sold 1,919 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $175.00, for a total value of $335,825.00. Following the completion of the transaction, the insider owned 21,835 shares in the company, valued at $3,821,125. This represents a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 52,000 shares of company stock worth $8,638,669. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.