Intercontinental Exchange (NYSE:ICE) General Counsel Andrew Surdykowski Sells 4,573 Shares

Intercontinental Exchange Inc. (NYSE:ICE) General Counsel Andrew Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Intercontinental Exchange Stock Down 1.2%

Shares of NYSE ICE opened at $147.93 on Friday. The company has a 50 day simple moving average of $157.56 and a 200-day simple moving average of $160.16. The company has a market capitalization of $83.66 billion, a P/E ratio of 21.53, a P/E/G ratio of 1.39 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. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (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 business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.72 EPS. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ICE. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Barclays reiterated an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $194.60.

Institutional Trading of Intercontinental Exchange

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Carlson Capital L.P. acquired a new position in shares of Intercontinental Exchange in the first quarter worth $2,029,000. Glenmede Trust Co. NA grew its stake in shares of Intercontinental Exchange by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 198,659 shares of the financial services provider’s stock worth $31,245,000 after acquiring an additional 795 shares in the last quarter. Axiom Investment Management LLC acquired a new position in shares of Intercontinental Exchange in the first quarter worth $431,000. Segall Bryant & Hamill LLC acquired a new position in shares of Intercontinental Exchange in the first quarter worth $12,908,000. Finally, Compass Capital Management Inc. grew its stake in shares of Intercontinental Exchange by 5.8% in the first quarter. Compass Capital Management Inc. now owns 382,602 shares of the financial services provider’s stock worth $60,176,000 after acquiring an additional 21,116 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Company Profile

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.