Intercontinental Exchange (NYSE:ICE) CFO Sells $390,033.60 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Warren Gardiner also recently made the following trade(s):

• On Thursday, February 19th, Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00.

Intercontinental Exchange Trading Up 1.1%

NYSE ICE opened at $153.09 on Friday. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $86.58 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. The firm’s fifty day simple moving average is $158.33 and its 200-day simple moving average is $159.97.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business posted $1.72 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Key Headlines Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: ICE and OKX announced plans to launch perpetual futures tied to ICE Brent Crude and WTI Crude benchmarks, extending ICE’s oil pricing products into a 24/7 crypto derivatives venue and potentially increasing the reach of its commodities franchise. ICE Brent and ICE WTI Perpetual Futures to Launch on OKX
• Positive Sentiment: ICE said it launched its first futures contracts based on battery materials, signaling continued product expansion beyond its traditional financial and energy offerings. Intercontinental Exchange: ICE Launches its first Futures Contracts Based on Battery Materials
• Positive Sentiment: ICE highlighted record all-contract open interest in its financials complex, which suggests strong trading activity and healthy demand for its market infrastructure products. Intercontinental Exchange: ICE Financials Complex Helps Drive Record All Contract Open Interest at ICE

Institutional Investors Weigh In On Intercontinental Exchange

Several hedge funds have recently made changes to their positions in the stock. Dynasty Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $897,000. Rockland Trust Co. raised its position in shares of Intercontinental Exchange by 19.7% in the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after buying an additional 20,981 shares in the last quarter. M&G PLC raised its position in shares of Intercontinental Exchange by 18.4% in the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after buying an additional 16,635 shares in the last quarter. McKinley Carter Wealth Services Inc. raised its position in shares of Intercontinental Exchange by 15.9% in the third quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider’s stock valued at $5,308,000 after buying an additional 4,333 shares in the last quarter. Finally, National Pension Service raised its position in shares of Intercontinental Exchange by 2.5% in the third quarter. National Pension Service now owns 1,389,561 shares of the financial services provider’s stock valued at $234,113,000 after buying an additional 34,358 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ICE. UBS Group reissued a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research report on Wednesday. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. Morgan Stanley raised their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Piper Sandler reiterated an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $194.60.

Intercontinental Exchange Company Profile

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.