Insider Selling: Intercontinental Exchange (NYSE:ICE) CAO Sells $660,975.00 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) CAO James Namkung sold 3,777 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $175.00, for a total transaction of $660,975.00. Following the completion of the sale, the chief accounting officer owned 10,325 shares of the company’s stock, valued at $1,806,875. This trade represents a 26.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Intercontinental Exchange Stock Performance

NYSE ICE traded down $1.73 during trading on Friday, reaching $172.28. 2,684,776 shares of the company’s stock were exchanged, compared to its average volume of 3,772,203. The business has a 50 day moving average price of $158.44 and a 200-day moving average price of $154.63. The stock has a market capitalization of $96.28 billion, a P/E ratio of 23.50, a PEG ratio of 1.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $177.94.

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

Analysts Set New Price Targets

ICE has been the topic of a number of research analyst reports. Barclays increased their price target on Intercontinental Exchange from $189.00 to $194.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. 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. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Raymond James Financial decreased their price objective on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Monday, October 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $189.25.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hughes Financial Services LLC grew its holdings in Intercontinental Exchange by 64.4% in the 3rd quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider’s stock valued at $32,000 after buying an additional 76 shares in the last quarter. James T. Borello RIA lifted its holdings in shares of Intercontinental Exchange by 143.0% during the third quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock worth $32,000 after buying an additional 123 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $26,000. Joseph Group Capital Management lifted its holdings in shares of Intercontinental Exchange by 55.4% during the third quarter. Joseph Group Capital Management now owns 244 shares of the financial services provider’s stock worth $37,000 after buying an additional 87 shares in the last quarter. Finally, Gables Capital Management Inc. bought a new stake in shares of Intercontinental Exchange in the second quarter valued at about $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.