Lido Advisors LLC Sells 30,482 Shares of Intercontinental Exchange Inc. $ICE

Lido Advisors LLC lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 122,776 shares of the financial services provider’s stock after selling 30,482 shares during the quarter. Lido Advisors LLC’s holdings in Intercontinental Exchange were worth $19,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. J. Stern & Co. LLP lifted its position in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. Norges Bank acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,418,228,000. Viking Global Investors LP acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $777,926,000. Boston Partners increased its stake in shares of Intercontinental Exchange by 148.6% during the fourth quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock worth $519,701,000 after purchasing an additional 1,914,851 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of Intercontinental Exchange by 569.8% during the fourth quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider’s stock worth $358,142,000 after purchasing an additional 1,880,835 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Up 0.5%

NYSE ICE opened at $143.19 on Friday. 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 cap of $80.98 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.48 and a beta of 0.94. The company has a 50 day moving average of $139.67 and a 200-day moving average of $154.14. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 earnings per share. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group dropped their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. TD Cowen decreased their price objective on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. The Goldman Sachs Group lowered their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $181.58.

About Intercontinental Exchange

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.