Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Update

Intercontinental Exchange, Inc. (NYSE:ICE) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 5,120,000 shares, an increase of 9.4% from the June 15th total of 4,680,000 shares. Based on an average trading volume of 2,300,000 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Barclays boosted their target price on shares of Intercontinental Exchange from $150.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Rosenblatt Securities reissued a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.07.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The stock was 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 of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,290 shares of company stock valued at $8,937,674. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ICE. Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter worth $839,259,000. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Capital World Investors grew its stake in shares of Intercontinental Exchange by 35.6% in the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Intercontinental Exchange by 303.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after purchasing an additional 1,790,493 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Down 0.1 %

Shares of ICE traded down $0.18 during trading on Thursday, reaching $149.23. The company’s stock had a trading volume of 237,160 shares, compared to its average volume of 2,376,097. The company has a fifty day moving average of $137.85 and a two-hundred day moving average of $134.54. Intercontinental Exchange has a twelve month low of $104.49 and a twelve month high of $149.55. The company has a market cap of $85.60 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 2.73 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. Intercontinental Exchange’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 EPS. On average, sell-side analysts predict that Intercontinental Exchange will post 5.99 EPS for the current fiscal year.

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.