Intercontinental Exchange (NYSE:ICE) SVP Douglas Foley Sells 7,300 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. The trade was a 27.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Intercontinental Exchange Stock Performance

ICE stock opened at $150.35 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $84.40 billion, a PE ratio of 21.24, a P/E/G ratio of 1.48 and a beta of 0.92. The business has a 50 day moving average of $139.52 and a 200-day moving average of $152.97. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $1.81 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ICE shares. The Goldman Sachs Group cut their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler lowered their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, TD Cowen reiterated a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Institutional Trading of Intercontinental Exchange

Several hedge funds have recently made changes to their positions in ICE. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $25,000. Steph & Co. raised its stake in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares during the period. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $28,000. Swiss RE Ltd. purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $28,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $30,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Company Profile

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.