Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) CTO Sells 395 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICE) CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $1.94 during midday trading on Wednesday, hitting $144.40. 2,873,935 shares of the stock were exchanged, compared to its average volume of 2,356,163. The stock has a market cap of $82.83 billion, a P/E ratio of 32.67, a PEG ratio of 2.63 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $144.47. The company has a 50 day moving average price of $135.81 and a 200-day moving average price of $133.74.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 EPS. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after purchasing an additional 12,208 shares during the last quarter. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares during the last quarter. D.A. Davidson & CO. raised its stake in Intercontinental Exchange by 8.5% in the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after purchasing an additional 1,991 shares during the last quarter. Point72 Europe London LLP raised its stake in Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Perpetual Ltd raised its stake in Intercontinental Exchange by 0.4% in the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after purchasing an additional 6,272 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods lowered their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Rosenblatt Securities reissued a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a report on Friday, May 3rd. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Bank of America reduced their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.43.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.