Intercontinental Exchange (NYSE:ICE) CTO Mayur Kapani Sells 4,271 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer directly owned 67,988 shares in the company, valued at approximately $10,279,785.60. The trade was a 5.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Intercontinental Exchange Trading Down 0.4%

ICE opened at $154.55 on Friday. The stock has a market capitalization of $86.76 billion, a PE ratio of 21.83, a P/E/G ratio of 1.53 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $182.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $140.59 and its 200 day moving average price is $152.26.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ICE shares. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research report on Monday, July 6th. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler cut their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, TD Cowen restated a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $183.33.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 0.8% in 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 in the last quarter. J. Stern & Co. LLP increased its holdings in Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. BlackRock Inc. acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $6,245,085,000. State Street Corp raised its position in Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after purchasing an additional 837,208 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after buying an additional 158,450 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.