Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Alkeon Capital Management LLC

Alkeon Capital Management LLC lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,801,057 shares of the financial services provider’s stock after selling 897 shares during the quarter. Intercontinental Exchange accounts for 0.5% of Alkeon Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Alkeon Capital Management LLC owned 0.31% of Intercontinental Exchange worth $289,322,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. Wolff Wiese Magana LLC increased its position in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter valued at $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $161.19 on Friday. The stock has a market capitalization of $92.55 billion, a price-to-earnings ratio of 38.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08. The business’s fifty day moving average price is $160.59 and its two-hundred day moving average price is $151.66. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction 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 sale, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,696 shares of company stock valued at $1,554,559. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on ICE shares. Barclays decreased their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Bank of America upped their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a report on Monday, October 14th. TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

About Intercontinental Exchange

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.