Warren Gardiner Sells 2,491 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 2,491 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. This represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Intercontinental Exchange Trading Up 1.7%

ICE opened at $161.29 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.65. The company has a market cap of $90.55 billion, a P/E ratio of 22.78, a PEG ratio of 1.58 and a beta of 0.92. The business’s 50-day simple moving average is $142.34 and its 200-day simple moving average is $151.69.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. Piper Sandler cut their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $25,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $26,000. Institutional investors and hedge funds 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.