Intercontinental Exchange Inc. (NYSE:ICE – Get Free Report) insider Elizabeth King sold 1,919 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $335,825.00. Following the completion of the transaction, the insider directly owned 21,835 shares of the company’s stock, valued at $3,821,125. This trade represents a 8.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Intercontinental Exchange Price Performance
Intercontinental Exchange 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 company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a market cap of $96.28 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.53 and a beta of 0.84. The business’s 50-day simple moving average is $158.67 and its 200 day simple moving average is $154.64.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.05. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. Intercontinental Exchange’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 EPS. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.
Hedge Funds Weigh In On Intercontinental Exchange
A number of institutional investors have recently added to or reduced their stakes in ICE. Hughes Financial Services LLC increased its position in shares of Intercontinental Exchange by 64.4% during the third quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 76 shares in the last quarter. James T. Borello RIA lifted its position in Intercontinental Exchange by 143.0% during the third quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 123 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $26,000. Joseph Group Capital Management boosted its stake in Intercontinental Exchange by 55.4% during the third quarter. Joseph Group Capital Management now owns 244 shares of the financial services provider’s stock worth $37,000 after buying an additional 87 shares during the period. Finally, Gables Capital Management Inc. bought a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $31,000. Institutional investors own 89.30% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on the company. Weiss Ratings raised Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Argus reduced their price target on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a report on Friday, August 14th. Raymond James Financial cut their target price on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Monday, October 5th. Barclays increased their price target on Intercontinental Exchange from $189.00 to $194.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Finally, Wells Fargo & Company raised their target price on Intercontinental Exchange from $160.00 to $167.00 and gave the company an “underweight” rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $189.25.
Get Our Latest Stock Report on Intercontinental Exchange
Key Stories Impacting Intercontinental Exchange
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
About Intercontinental Exchange
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.
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