Hara Capital LLC Acquires Shares of 4,060 Intercontinental Exchange Inc. $ICE

Hara Capital LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 4,060 shares of the financial services provider’s stock, valued at approximately $500,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. J. Stern & Co. LLP grew its position in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after buying an additional 53,798,055 shares during the period. BlackRock Inc. bought a new position in Intercontinental Exchange during the second quarter valued at about $6,245,085,000. State Street Corp increased its holdings in Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after buying an additional 837,208 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after buying an additional 158,450 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer directly owned 67,988 shares in the company, valued at $10,279,785.60. The trade was a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,709 shares of company stock valued at $2,646,042 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $158.68 on Friday. The firm has a market capitalization of $89.08 billion, a PE ratio of 22.41, a P/E/G ratio of 1.55 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $141.92 and a two-hundred day moving average price of $151.63. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Equities analysts forecast that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ICE shares. Piper Sandler dropped their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Barclays restated an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Morgan Stanley dropped their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. The Goldman Sachs Group reduced their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, UBS Group reissued a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $183.33.

About Intercontinental Exchange

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.