Intercontinental Exchange Inc. $ICE Shares Sold by Waverly Advisors LLC

Waverly Advisors LLC cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 47.5% in the second quarter, Holdings Channel.com reports. The fund owned 19,056 shares of the financial services provider’s stock after selling 17,236 shares during the quarter. Waverly Advisors LLC’s holdings in Intercontinental Exchange were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ICE. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $30,000. Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $26,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ICE shares. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. The Goldman Sachs Group decreased 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. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Piper Sandler reduced their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $184.17.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the transaction, the senior vice president directly owned 17,463 shares of the company’s stock, valued at approximately $2,794,080. The trade was a 8.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 12,862 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the transaction, the president owned 164,264 shares of the company’s stock, valued at approximately $26,297,023.76. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 39,579 shares of company stock valued at $6,217,715. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $157.49 on Friday. The stock’s 50-day moving average price is $151.14 and its 200 day moving average price is $151.76. 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 stock has a market capitalization of $88.41 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.59.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period last year, the firm earned $1.81 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.