Foundations Investment Advisors LLC Takes $330,000 Position in Intercontinental Exchange Inc. $ICE

Foundations Investment Advisors LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,800 shares of the financial services provider’s stock, valued at approximately $330,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optivise Advisory Services LLC lifted its stake in shares of Intercontinental Exchange by 3.1% in the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 54 shares during the period. Tritonpoint Wealth LLC raised its holdings in Intercontinental Exchange by 1.4% during the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 58 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Intercontinental Exchange by 5.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 58 shares during the period. RB Capital Management LLC boosted its stake in Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 59 shares in the last quarter. Finally, Chemistry Wealth Management LLC increased its position in shares of Intercontinental Exchange by 0.8% during the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after purchasing an additional 60 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.5%

NYSE:ICE opened at $153.56 on Thursday. The business’s fifty day moving average price is $158.91 and its 200 day moving average price is $172.32. The firm has a market capitalization of $87.56 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.11 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.55 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. The trade was a 13.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the sale, the director owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,098 shares of company stock valued at $4,024,000 in the last three months. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ICE shares. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a report on Monday, October 13th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Barclays set a $183.00 price objective on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $194.70.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.