Tidal Investments LLC Sells 5,499 Shares of Intercontinental Exchange Inc. $ICE

Tidal Investments LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,248 shares of the financial services provider’s stock after selling 5,499 shares during the quarter. Tidal Investments LLC’s holdings in Intercontinental Exchange were worth $17,635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van Hulzen Asset Management LLC increased its holdings in shares of Intercontinental Exchange by 11.3% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 14,388 shares of the financial services provider’s stock worth $1,771,000 after purchasing an additional 1,460 shares in the last quarter. National Pension Service increased its position in Intercontinental Exchange by 3.5% during the second quarter. National Pension Service now owns 1,173,317 shares of the financial services provider’s stock valued at $144,447,000 after acquiring an additional 39,430 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $4,703,000. Engineers Gate Manager LP increased its position in shares of Intercontinental Exchange by 86.5% during the 2nd quarter. Engineers Gate Manager LP now owns 136,793 shares of the financial services provider’s stock valued at $16,841,000 after purchasing an additional 63,456 shares during the last quarter. Finally, Cidel Asset Management Inc. boosted its holdings in shares of Intercontinental Exchange by 11.8% in the second quarter. Cidel Asset Management Inc. now owns 2,205 shares of the financial services provider’s stock worth $271,000 after buying an additional 232 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ICE shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Piper Sandler decreased their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Finally, Barclays reissued an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.17.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total value of $739,935.98. Following the sale, the general counsel owned 43,065 shares of the company’s stock, valued at $6,966,625.05. This trade represents a 9.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 39,579 shares of company stock valued at $6,217,715. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Down 0.5%

Intercontinental Exchange stock opened at $155.73 on Friday. 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 firm has a 50 day moving average price of $150.64 and a 200 day moving average price of $151.71. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $176.59. The company has a market capitalization of $87.43 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

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

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.