Intercontinental Exchange Inc. $ICE Shares Sold by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,309 shares of the financial services provider’s stock after selling 3,113 shares during the period. Intercontinental Exchange comprises 3.8% of Guinness Atkinson Asset Management Inc’s portfolio, making the stock its 10th largest position. Guinness Atkinson Asset Management Inc’s holdings in Intercontinental Exchange were worth $7,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Intercontinental Exchange by 42.0% during the first quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock valued at $2,265,000 after acquiring an additional 3,883 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Intercontinental Exchange by 279.7% during the first quarter. Golden State Wealth Management LLC now owns 1,310 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 965 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 1,879 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Intercontinental Exchange by 52.6% in the first quarter. Creative Financial Designs Inc. ADV now owns 267 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 92 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 939 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer owned 16,624 shares in the company, valued at $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,162 shares of company stock worth $43,642,652. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Morgan Stanley reduced their target price 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. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday. Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.60.

Intercontinental Exchange Stock Performance

ICE stock opened at $157.71 on Monday. The stock’s 50 day simple moving average is $168.26 and its 200 day simple moving average is $173.68. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The firm 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 company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the company earned $1.52 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

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.