Insider Selling: Intercontinental Exchange (NYSE:ICE) CFO Sells $389,343.30 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the transaction, the chief financial officer owned 22,698 shares in the company, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Intercontinental Exchange Trading Up 0.0%

Shares of ICE opened at $161.29 on Monday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.65. The stock has a 50-day moving average price of $142.34 and a 200 day moving average price of $151.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $90.55 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the business earned $1.81 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.8% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Barclays reissued an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, The Goldman Sachs Group cut their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at $25,000. Rakuten Securities Inc. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $26,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $30,000. 89.30% of the stock is currently owned by institutional investors.

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.