Intercontinental Exchange, Inc. (NYSE:ICE) Position Cut by Wealthspire Advisors LLC

Wealthspire Advisors LLC trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 13.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,830 shares of the financial services provider’s stock after selling 444 shares during the quarter. Wealthspire Advisors LLC’s holdings in Intercontinental Exchange were worth $389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange in the 1st quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, with a total value of $305,265.60. Following the purchase, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the purchase, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The disclosure for this purchase can be found here. Insiders have sold a total of 63,290 shares of company stock valued at $8,937,674 in the last three months. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Up 0.8 %

NYSE:ICE traded up $1.25 during trading hours on Friday, hitting $148.40. 3,718,928 shares of the stock traded hands, compared to its average volume of 2,393,364. The firm has a 50 day moving average price of $136.90 and a 200 day moving average price of $134.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $149.44. The firm has a market cap of $85.12 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.70 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $1.41 EPS. The company’s revenue was up 20.8% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ICE shares. Morgan Stanley upped their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Citigroup upped their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Finally, Keefe, Bruyette & Woods cut their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $152.07.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.