Tema ETFs LLC Sells 5,720 Shares of Intercontinental Exchange Inc. $ICE

Tema ETFs LLC trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 36.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,792 shares of the financial services provider’s stock after selling 5,720 shares during the quarter. Tema ETFs LLC’s holdings in Intercontinental Exchange were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. PNC Financial Services Group Inc. increased its position in Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after acquiring an additional 10,742 shares during the period. USS Investment Management Ltd increased its holdings in shares of Intercontinental Exchange by 37.2% during the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after purchasing an additional 256,851 shares during the period. Walter Public Investments Inc. increased its holdings in shares of Intercontinental Exchange by 13.8% during the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after purchasing an additional 15,129 shares during the period. Nicholas Company Inc. raised its position in shares of Intercontinental Exchange by 10.1% during the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock valued at $70,802,000 after buying an additional 40,240 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 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 buying an additional 413,639 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $155.34 on Friday. The firm has a market capitalization of $87.21 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.49 and a beta of 0.92. The stock has a fifty day moving average price of $140.32 and a two-hundred day moving average price of $152.25. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $183.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the company earned $1.81 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ICE. UBS Group reissued a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Piper Sandler decreased their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $183.33.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This trade represents a 27.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,454 shares of company stock valued at $2,469,349. 0.84% of the stock is owned by company insiders.

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.