Sharon Bowen Sells 667 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) Director Sharon Bowen sold 667 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $147.93 on Friday. The business’s 50-day moving average price is $157.56 and its 200-day moving average price is $160.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The firm has a market capitalization of $83.66 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company earned $1.72 EPS. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Institutional Trading of Intercontinental Exchange

Several large investors have recently modified their holdings of ICE. ICONIQ Capital LLC lifted its stake in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares during the period. Mechanics Financial Corp lifted its stake in Intercontinental Exchange by 1.0% in the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after buying an additional 60 shares during the period. Mission Wealth Management LP lifted its stake in Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after buying an additional 62 shares during the period. Aaron Wealth Advisors LLC lifted its stake in Intercontinental Exchange by 1.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after buying an additional 63 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in Intercontinental Exchange by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after buying an additional 63 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ICE shares. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Morgan Stanley raised their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. Barclays restated an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock 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.