Insider Selling: Intercontinental Exchange (NYSE:ICE) CTO Sells $663,798.82 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Mayur Kapani also recently made the following trade(s):

• On Wednesday, February 18th, Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26.

Intercontinental Exchange Trading Down 1.6%

Shares of Intercontinental Exchange stock opened at $151.61 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The firm has a market cap of $85.74 billion, a PE ratio of 22.07, a PEG ratio of 1.42 and a beta of 0.96. The company has a 50 day simple moving average of $158.58 and a two-hundred day simple moving average of $159.98.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently bought and sold shares of ICE. Ares Financial Consulting LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Holos Integrated Wealth LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Steph & Co. raised its holdings in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares during the last quarter. Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Swiss RE Ltd. bought a new stake in Intercontinental Exchange in the 4th quarter worth $28,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Morgan Stanley lifted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. 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 reiterated an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price 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.