William Blair Investment Management LLC Sells 14,982 Shares of Intercontinental Exchange Inc. $ICE

William Blair Investment Management LLC decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 30.9% in the fourth quarter, Holdings Channel reports. The fund owned 33,546 shares of the financial services provider’s stock after selling 14,982 shares during the period. William Blair Investment Management LLC’s holdings in Intercontinental Exchange were worth $5,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the last quarter. Empowered Funds LLC increased its stake in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares during the period. Sivia Capital Partners LLC increased its stake in Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares during the period. NewEdge Advisors LLC increased its stake in Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after acquiring an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 11,332 shares of company stock worth $1,794,334. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 1.3%

ICE opened at $150.94 on Wednesday. The firm’s fifty day moving average is $158.06 and its two-hundred day moving average is $160.15. 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 firm has a market cap of $85.36 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 1.42 and a beta of 0.96. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $1.72 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ICE. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. UBS Group reissued a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $194.60.

Intercontinental Exchange 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.