Iridian Asset Management LLC CT Trims Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Iridian Asset Management LLC CT reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 46.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,477 shares of the financial services provider’s stock after selling 21,522 shares during the quarter. Iridian Asset Management LLC CT’s holdings in Intercontinental Exchange were worth $3,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after buying an additional 122,169 shares during the period. Russell Investments Group Ltd. lifted its position in Intercontinental Exchange by 7.0% during the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock worth $43,617,000 after buying an additional 20,802 shares during the period. Mission Wealth Management LP purchased a new position in Intercontinental Exchange during the first quarter worth about $866,000. UniSuper Management Pty Ltd lifted its position in Intercontinental Exchange by 200.2% during the first quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock worth $1,987,000 after buying an additional 9,642 shares during the period. Finally, BDF Gestion purchased a new position in Intercontinental Exchange during the second quarter worth about $2,849,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.1 %

NYSE:ICE opened at $166.53 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $162.14 and its two-hundred day moving average is $147.98. Intercontinental Exchange, Inc. has a 52 week low of $104.91 and a 52 week high of $167.99. The company has a market cap of $95.61 billion, a PE ratio of 41.22, a P/E/G ratio of 2.50 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. On average, analysts predict that Intercontinental Exchange, Inc. will post 6.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley upped their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Citigroup upped their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Piper Sandler upped their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Barclays upped their price target on Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $173.93.

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.