Intercontinental Exchange (NYSE:ICE) CFO Sells $390,033.60 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Warren Gardiner also recently made the following trade(s):

• On Thursday, February 19th, Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00.

Intercontinental Exchange Stock Down 1.6%

Intercontinental Exchange stock traded down $2.50 during trading hours on Wednesday, reaching $151.61. The stock had a trading volume of 3,768,116 shares, compared to its average volume of 3,616,976. The company has a market cap of $85.74 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day moving average price is $158.87 and its 200-day moving average price is $159.96. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Institutional Investors Weigh In On Intercontinental Exchange

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC grew its stake in shares of Intercontinental Exchange by 275.0% during the 1st quarter. Western Wealth Management LLC now owns 8,952 shares of the financial services provider’s stock worth $1,408,000 after purchasing an additional 6,565 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $1,742,000. Bull Harbor Capital LLC acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $320,000. Strategic Investment Advisors MI grew its stake in shares of Intercontinental Exchange by 27.6% during the 1st quarter. Strategic Investment Advisors MI now owns 1,862 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 403 shares during the period. Finally, Arkadios Wealth Advisors lifted its position in shares of Intercontinental Exchange by 2.0% during the 1st quarter. Arkadios Wealth Advisors now owns 18,847 shares of the financial services provider’s stock valued at $2,964,000 after buying an additional 377 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ICE shares. Piper Sandler restated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. UBS Group restated a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $194.60.

About Intercontinental Exchange

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.