Intercontinental Exchange (NYSE:ICE) CFO Warren Gardiner Sells 2,491 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) CFO Warren Gardiner sold 2,491 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer owned 22,698 shares in the company, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Intercontinental Exchange Stock Performance

ICE traded up $2.68 during trading on Friday, hitting $161.29. The stock had a trading volume of 3,665,172 shares, compared to its average volume of 3,994,677. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day moving average price of $141.92 and a 200-day moving average price of $151.63. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.65. The firm has a market cap of $90.55 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.55 and a beta of 0.92.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ICE shares. Barclays reiterated an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. The Goldman Sachs Group decreased their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Institutional Investors Weigh In On Intercontinental Exchange

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICE. Continuum Advisory LLC acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $214,000. Nykredit A S acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth $23,074,000. Tranquilli Financial Advisor LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth $573,000. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Intercontinental Exchange by 7.3% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 54,897 shares of the financial services provider’s stock worth $6,758,000 after buying an additional 3,711 shares during the last quarter. Finally, Birch Capital Management LLC lifted its position in shares of Intercontinental Exchange by 8.8% during the 2nd quarter. Birch Capital Management LLC now owns 32,005 shares of the financial services provider’s stock worth $3,940,000 after buying an additional 2,579 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

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.