Warren Gardiner Sells 2,490 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Warren Gardiner also recently made the following trade(s):

• On Thursday, February 19th, Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00.

Intercontinental Exchange Stock Down 0.2%

ICE stock opened at $151.35 on Friday. The stock has a market capitalization of $85.59 billion, a P/E ratio of 22.03, a PEG ratio of 1.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a 50 day moving average price of $158.41 and a two-hundred day moving average price of $160.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $1.72 EPS. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors have recently added to or reduced their stakes in ICE. J. Stern & Co. LLP lifted its holdings in Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares in the last quarter. Norges Bank acquired a new position in Intercontinental Exchange in the 4th quarter worth $1,418,228,000. Viking Global Investors LP acquired a new position in Intercontinental Exchange in the 4th quarter worth $777,926,000. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares in the last quarter. Finally, Boston Partners lifted its holdings in Intercontinental Exchange by 148.6% in the 4th quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock worth $519,701,000 after buying an additional 1,914,851 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Barclays restated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Finally, Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $194.60.

About Intercontinental Exchange

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.