Intercontinental Exchange (NYSE:ICE) Stock: Insider James Namkung Sells 3,777 Shares

Intercontinental Exchange Inc. (NYSE:ICE) CAO James Namkung sold 3,777 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $660,975.00. Following the completion of the transaction, the chief accounting officer directly owned 10,325 shares in the company, valued at approximately $1,806,875. The trade was a 26.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Intercontinental Exchange Stock Down 1.0%

Shares of ICE stock opened at $172.28 on Friday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.94. The stock has a market cap of $96.28 billion, a P/E ratio of 23.50, a P/E/G ratio of 1.52 and a beta of 0.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $158.67 and a two-hundred day simple moving average of $154.64.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.05. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 EPS. On average, research analysts expect that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Jefferies Financial Group reduced their price target on Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. Weiss Ratings upgraded Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. 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 research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

Key Intercontinental Exchange News

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

• Positive Sentiment: ICE is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
• Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
• Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
• Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
• Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
• Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
• Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kintegral Advisory LLC boosted its stake in Intercontinental Exchange by 0.6% during the third quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider’s stock valued at $1,738,000 after buying an additional 64 shares during the period. Gilpin Wealth Management LLC increased its stake in Intercontinental Exchange by 6.3% in the 3rd quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 66 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Intercontinental Exchange by 33.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 68 shares in the last quarter. Chemistry Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 0.9% in the 3rd quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 68 shares in the last quarter. Finally, Capstone Financial Advisors Inc. raised its holdings in shares of Intercontinental Exchange by 1.4% in the 2nd quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 69 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants.

Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.