Rakuten Investment Management Inc. Makes New Investment in Intercontinental Exchange Inc. $ICE

Rakuten Investment Management Inc. bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 31,799 shares of the financial services provider’s stock, valued at approximately $5,357,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Optivise Advisory Services LLC increased its stake in Intercontinental Exchange by 3.1% during the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. ICONIQ Capital LLC boosted its holdings in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares during the period. Tritonpoint Wealth LLC increased its position in shares of Intercontinental Exchange by 1.4% during the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after acquiring an additional 58 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 58 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its holdings in shares of Intercontinental Exchange by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock worth $597,000 after acquiring an additional 60 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 3,700 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $157.96, for a total transaction of $584,452.00. Following the completion of the sale, the director directly owned 14,469 shares in the company, valued at $2,285,523.24. This represents a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. This represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 166,068 shares of company stock worth $25,470,702. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. UBS Group reissued a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 7th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Barclays set a $182.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $193.50.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $174.44 on Friday. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a market cap of $99.46 billion, a P/E ratio of 31.77, a P/E/G ratio of 2.09 and a beta of 1.03. The firm’s fifty day moving average price is $161.48 and its two-hundred day moving average price is $167.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. Equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Company 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.