Intercontinental Exchange (NYSE:ICE) General Counsel Andrew Surdykowski Sells 4,575 Shares of Company Stock

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,575 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $175.05, for a total transaction of $800,853.75. Following the completion of the sale, the general counsel owned 40,554 shares in the company, valued at $7,098,977.70. This represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $2.79 during trading hours on Thursday, reaching $177.80. The company had a trading volume of 2,977,146 shares, compared to its average volume of 3,768,874. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.38. The firm has a market cap of $99.36 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.55 and a beta of 0.84. The firm’s 50 day moving average price is $159.63 and its 200-day moving average price is $154.70.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $2.74 billion. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.71 EPS. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Analysts Set New Price Targets

ICE has been the subject of a number of research reports. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Morgan Stanley boosted their price target on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. Wells Fargo & Company increased their price objective on shares of Intercontinental Exchange from $160.00 to $167.00 and gave the stock an “underweight” rating in a research note on Friday, October 30th. Finally, Bank of America raised their price objective on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $714,869,000. Flossbach Von Storch SE bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $649,900,000. Bank of America Corp DE purchased a new stake in shares of Intercontinental Exchange in the second quarter worth $521,557,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter worth $474,012,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.