Intercontinental Exchange Inc. $ICE Shares Bought by AlphaCore Capital LLC

AlphaCore Capital LLC lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 563.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 28,929 shares of the financial services provider’s stock after acquiring an additional 24,567 shares during the period. AlphaCore Capital LLC’s holdings in Intercontinental Exchange were worth $4,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at approximately $25,000. Holos Integrated Wealth LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Steph & Co. boosted its position in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the period. Dorato Capital Management acquired a new position in Intercontinental Exchange during the 4th quarter valued at approximately $29,000. Finally, Caitlin John LLC acquired a new position in Intercontinental Exchange during the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the transaction, the chief executive officer owned 1,651,705 shares in the company, valued at approximately $256,014,275. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total value of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,055,992.38. This represents a 19.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 330,835 shares of company stock valued at $51,275,650 in the last ninety days. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

Shares of Intercontinental Exchange stock opened at $154.48 on Friday. The stock’s fifty day moving average is $159.26 and its 200-day moving average is $159.94. The firm has a market capitalization of $87.36 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Wall Street Analyst Weigh In

ICE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research report on Friday, March 6th. Barclays restated an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Piper Sandler restated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $194.10.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.