Douglas Foley Sells 1,600 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the transaction, the senior vice president owned 17,463 shares of the company’s stock, valued at $2,794,080. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Douglas Foley also recently made the following trade(s):

• On Wednesday, August 5th, Douglas Foley sold 7,300 shares of Intercontinental Exchange stock. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $1.64 during mid-day trading on Monday, hitting $162.89. The company had a trading volume of 3,123,597 shares, compared to its average volume of 3,989,276. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.65. The stock’s 50 day moving average price is $142.34 and its 200-day moving average price is $151.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $91.45 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.57 and a beta of 0.92.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on ICE. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Morgan Stanley dropped their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Piper Sandler cut their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research note on Monday, July 6th. Finally, UBS Group reaffirmed a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $183.33.

Institutional Trading of Intercontinental Exchange

A number of large investors have recently made changes to their positions in ICE. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $25,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $26,000. 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.