Oppenheimer Asset Management Inc. Sells 7,928 Shares of Intercontinental Exchange Inc. $ICE

Oppenheimer Asset Management Inc. decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 7.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 100,296 shares of the financial services provider’s stock after selling 7,928 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Intercontinental Exchange were worth $18,401,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Atlatl Advisers LLC increased its stake in Intercontinental Exchange by 2.8% in the 2nd quarter. Atlatl Advisers LLC now owns 3,778 shares of the financial services provider’s stock valued at $693,000 after buying an additional 104 shares during the last quarter. Brighton Jones LLC increased its stake in Intercontinental Exchange by 23.1% in the 2nd quarter. Brighton Jones LLC now owns 4,647 shares of the financial services provider’s stock valued at $853,000 after buying an additional 873 shares during the last quarter. Stegent Equity Advisors Inc. increased its stake in Intercontinental Exchange by 38.2% in the 2nd quarter. Stegent Equity Advisors Inc. now owns 3,131 shares of the financial services provider’s stock valued at $574,000 after buying an additional 865 shares during the last quarter. Leavell Investment Management Inc. grew its stake in Intercontinental Exchange by 2.1% in the second quarter. Leavell Investment Management Inc. now owns 29,908 shares of the financial services provider’s stock valued at $5,487,000 after purchasing an additional 603 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs grew its stake in Intercontinental Exchange by 1.0% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 21,543 shares of the financial services provider’s stock valued at $3,952,000 after purchasing an additional 212 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ICE. Morgan Stanley decreased their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. Piper Sandler increased their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $198.60.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $157.71 on Friday. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company has a market cap of $90.28 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08. The firm’s fifty day moving average price is $168.26 and its two-hundred day moving average price is $173.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

About Intercontinental Exchange

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.