Intercontinental Exchange (NYSE:ICE) President Benjamin Jackson Sells 400 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) President Benjamin Jackson sold 400 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $177.90, for a total value of $71,160.00. Following the completion of the sale, the president owned 156,532 shares in the company, valued at $27,847,042.80. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Benjamin Jackson also recently made the following trade(s):

• On Wednesday, November 4th, Benjamin Jackson sold 7,332 shares of Intercontinental Exchange stock. The stock was sold at an average price of $175.01, for a total transaction of $1,283,173.32.
• On Tuesday, September 1st, Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $1.73 during mid-day trading on Friday, hitting $172.28. The stock had a trading volume of 2,685,083 shares, compared to its average volume of 3,772,203. 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 $158.44 and a 200-day simple moving average of $154.63. The stock has a market capitalization of $96.28 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.54 and a beta of 0.84. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.94.

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

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

Analysts Set New Price Targets

Several brokerages have weighed in on ICE. Rothschild & Co Redburn lifted their target price on Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Raymond James Financial reduced their price objective on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a report on Monday, October 5th. Bank of America raised their target price on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $189.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Intercontinental Exchange during the second quarter valued at approximately $714,869,000. Flossbach Von Storch SE bought a new stake in Intercontinental Exchange during the second quarter worth approximately $649,900,000. Bank of America Corp DE bought a new stake in Intercontinental Exchange during the second quarter worth approximately $521,557,000. Finally, Jupiter Topco LLC acquired a new position in Intercontinental Exchange in the second quarter worth approximately $474,012,000. Institutional investors own 89.30% of the company’s stock.

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.