Douglas Foley Sells 7,300 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president directly owned 19,063 shares in the company, valued at $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Intercontinental Exchange Price Performance

NYSE ICE opened at $150.35 on Friday. The company has a 50-day moving average price of $139.52 and a 200-day moving average price of $152.97. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $84.40 billion, a P/E ratio of 21.24, a PEG ratio of 1.48 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.

Analysts Set New Price Targets

ICE has been the topic of several analyst reports. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Barclays reaffirmed an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reissued a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. One equities research 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 data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ICE. Vanguard Group Inc. raised its holdings in Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares during the period. J. Stern & Co. LLP boosted its stake in shares of Intercontinental Exchange by 17,398.1% in 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 period. BlackRock Inc. bought a new position in shares of Intercontinental Exchange in the second quarter worth about $6,245,085,000. State Street Corp grew its position in shares of Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after purchasing an additional 837,208 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after purchasing an additional 158,450 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.