Longboard Asset Management LP Invests $233,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Longboard Asset Management LP acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, Holdings Channel.com reports. The firm acquired 1,561 shares of the financial services provider’s stock, valued at approximately $233,000.

Several other hedge funds have also made changes to their positions in ICE. Cetera Investment Advisers lifted its position in Intercontinental Exchange by 3.2% during the second quarter. Cetera Investment Advisers now owns 63,902 shares of the financial services provider’s stock valued at $8,748,000 after acquiring an additional 2,006 shares during the last quarter. AMF Tjanstepension AB increased its position in shares of Intercontinental Exchange by 14.5% during the third quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider’s stock worth $20,441,000 after purchasing an additional 16,130 shares in the last quarter. Czech National Bank lifted its holdings in shares of Intercontinental Exchange by 7.0% during the 3rd quarter. Czech National Bank now owns 116,958 shares of the financial services provider’s stock valued at $18,788,000 after purchasing an additional 7,656 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Intercontinental Exchange by 35.4% in the 3rd quarter. GAMMA Investing LLC now owns 8,359 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 2,186 shares in the last quarter. Finally, Diversified Trust Co boosted its position in shares of Intercontinental Exchange by 281.4% in the 3rd quarter. Diversified Trust Co now owns 5,953 shares of the financial services provider’s stock worth $956,000 after purchasing an additional 4,392 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley increased their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. Keefe, Bruyette & Woods dropped their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Piper Sandler raised their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares in the company, valued at $1,908,967.06. The trade was a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $160.40 on Tuesday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $92.10 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 3.06 and a beta of 1.11. The business has a 50-day simple moving average of $153.12 and a 200-day simple moving average of $156.54.

Intercontinental Exchange 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.