Insider Selling: Intercontinental Exchange (NYSE:ICE) Director Sells $21,855.00 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) Director Martha Tirinnanzi sold 141 shares of Intercontinental Exchange stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $155.00, for a total value of $21,855.00. Following the completion of the transaction, the director directly owned 5,087 shares in the company, valued at $788,485. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Intercontinental Exchange Stock Up 0.6%

ICE opened at $157.04 on Thursday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.72. The firm has a 50 day moving average price of $141.53 and a 200 day moving average price of $151.73. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $88.16 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the firm earned $1.81 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ICE shares. Barclays reiterated an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler lowered their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. The Goldman Sachs Group dropped their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $183.33.

Institutional Trading of Intercontinental Exchange

Large investors have recently modified their holdings of the business. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $25,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange in the second quarter worth $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.