Modera Wealth Management LLC Sells 3,387 Shares of Intercontinental Exchange Inc. $ICE

Modera Wealth Management LLC trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 5.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 57,836 shares of the financial services provider’s stock after selling 3,387 shares during the period. Modera Wealth Management LLC’s holdings in Intercontinental Exchange were worth $10,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $28,000. Activest Wealth Management lifted its holdings in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange during the second quarter worth $29,000. McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange in the first quarter worth $30,000. Finally, Hilltop National Bank bought a new position in Intercontinental Exchange in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a 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 shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 240,162 shares of company stock worth $43,642,652. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 1.0%

ICE stock opened at $148.93 on Friday. The stock has a 50-day simple moving average of $162.47 and a two-hundred day simple moving average of $173.02. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The firm has a market capitalization of $84.92 billion, a PE ratio of 28.59, a PEG ratio of 2.11 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting analysts’ consensus estimates of $1.71. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.55 earnings per share. On average, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. TD Cowen lowered their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.82.

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.