Gradient Investments LLC Sells 1,325 Shares of Intercontinental Exchange Inc. $ICE

Gradient Investments LLC lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,515 shares of the financial services provider’s stock after selling 1,325 shares during the period. Gradient Investments LLC’s holdings in Intercontinental Exchange were worth $14,956,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Advisors Capital Management LLC increased its position in Intercontinental Exchange by 25.0% during the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 396 shares during the last quarter. Tema Etfs LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at $1,107,000. Capital Investment Advisory Services LLC bought a new position in Intercontinental Exchange during the first quarter valued at $349,000. Sequoia Financial Advisors LLC increased its position in Intercontinental Exchange by 18.3% during the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock valued at $2,099,000 after acquiring an additional 1,879 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in Intercontinental Exchange during the fourth quarter valued at $28,949,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $174.02 on Monday. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market cap of $99.61 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. The firm’s 50-day moving average price is $180.62 and its 200-day moving average price is $175.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company earned $1.52 EPS. Intercontinental Exchange’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,730 shares of company stock worth $42,171,892 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.92.

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.