Forsta AP Fonden Lowers Stake in Intercontinental Exchange Inc. $ICE

Forsta AP Fonden decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 33.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 120,100 shares of the financial services provider’s stock after selling 61,000 shares during the quarter. Forsta AP Fonden’s holdings in Intercontinental Exchange were worth $19,451,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares during the period. State Street Corp grew its position in shares of Intercontinental Exchange by 0.8% in the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after purchasing an additional 194,325 shares during the period. Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after purchasing an additional 4,067,922 shares during the period. Norges Bank acquired a new position in Intercontinental Exchange in the fourth quarter valued at $1,418,228,000. Finally, Capital World Investors lifted its position in Intercontinental Exchange by 15.2% during the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock worth $1,184,238,000 after buying an additional 928,047 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Key Stories Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: CEO Jeffrey Sprecher’s comments about pursuing 24/7 on-chain perps and exploring ties with Hyperliquid suggest ICE could expand into a fast-growing crypto trading niche. Article: NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perps
• Positive Sentiment: ICE said natural gas and power open interest hit record levels in May, pointing to strong trading volumes and healthy demand on its exchanges. Article: Open interest in natural gas and power on ICE hits record in May
• Neutral Sentiment: ICE’s CEO also highlighted exploratory discussions with Hyperliquid, reinforcing the company’s interest in crypto-market infrastructure but without any finalized deal or launch yet. Article: Intercontinental Exchange Owner Says This 11-Person Crypto Team Is Bigger Than Nasdaq
• Negative Sentiment: General Counsel Andrew Surdykowski sold 4,573 shares, adding to near-term concern around insider confidence. Article: Intercontinental Exchange General Counsel Andrew Surdykowski Sells 4,573 Shares
• Negative Sentiment: Director Sharon Bowen also sold shares recently, which may reinforce the cautious tone around the stock. Article: Intercontinental Exchange Director Sharon Bowen Sells 667 Shares

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,001 shares of company stock worth $1,847,820 over the last three months. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $147.85 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $83.61 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.38 and a beta of 0.96. The firm’s fifty day simple moving average is $157.38 and its 200 day simple moving average is $160.07. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the company earned $1.72 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Friday, March 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Morgan Stanley upped their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Finally, UBS Group reissued a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $194.60.

Intercontinental Exchange 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.