Navellier & Associates Inc. Takes $646,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Navellier & Associates Inc. purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,030 shares of the financial services provider’s stock, valued at approximately $646,000.

A number of other hedge funds also recently made changes to their positions in ICE. Fortitude Family Office LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Altshuler Shaham Ltd bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $29,000. Jones Financial Companies Lllp bought a new position in Intercontinental Exchange during the 3rd quarter worth $26,000. Finally, OFI Invest Asset Management bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at about $25,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Insiders have sold a total of 113,405 shares of company stock worth $15,515,819 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded up $1.29 during mid-day trading on Friday, reaching $138.40. The company’s stock had a trading volume of 2,060,689 shares, compared to its average volume of 2,261,679. The firm’s fifty day moving average price is $134.25 and its two-hundred day moving average price is $127.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43. The company has a market capitalization of $79.38 billion, a P/E ratio of 31.74, a PEG ratio of 2.56 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ICE shares. Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Barclays dropped their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Citigroup raised their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Piper Sandler increased their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.92.

About Intercontinental Exchange

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.