William Blair Investment Management LLC Makes New $714,000 Investment in Intercontinental Exchange Inc. $ICE

William Blair Investment Management LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,798 shares of the financial services provider’s stock, valued at approximately $714,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ICONIQ Capital LLC boosted its position in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares in the last quarter. Mission Wealth Management LP raised its stake in Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after buying an additional 62 shares during the last quarter. Johnson Financial Group LLC boosted its holdings in Intercontinental Exchange by 4.0% in the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 65 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Intercontinental Exchange by 33.5% in the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 68 shares during the last quarter. Finally, Burns J W & Co. Inc. NY increased its holdings in shares of Intercontinental Exchange by 0.6% during the first quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $161.29 on Monday. The firm has a market capitalization of $90.55 billion, a P/E ratio of 22.78, a PEG ratio of 1.57 and a beta of 0.92. 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 one year low of $121.79 and a one year high of $181.65. The business has a fifty day moving average of $142.34 and a 200 day moving average of $151.54.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the business posted $1.81 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the transaction, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,491 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer owned 22,698 shares in the company, valued at $3,547,697.40. This trade represents a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 20,200 shares of company stock worth $3,035,385. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ICE shares. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. Piper Sandler reduced their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. Finally, Barclays reissued an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.33.

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.