Intercontinental Exchange (NYSE:ICE) Insider Sells $335,825.00 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) insider Elizabeth King sold 1,919 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total value of $335,825.00. Following the transaction, the insider directly owned 21,835 shares in the company, valued at $3,821,125. The trade was a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Intercontinental Exchange Price Performance

Shares of ICE opened at $172.28 on Monday. The business’s fifty day moving average is $158.67 and its 200 day moving average is $154.64. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $177.94. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a market cap of $96.28 billion, a P/E ratio of 23.50, a P/E/G ratio of 1.52 and a beta of 0.84.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the previous year, the business posted $1.71 EPS. Intercontinental Exchange’s quarterly revenue was up 14.7% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Rothschild & Co Redburn boosted their target price on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Argus dropped their price target on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Bank of America lifted their price target on Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Finally, The Goldman Sachs Group boosted their price objective on Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.25.

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently bought and sold shares of the stock. ProVise Management Group LLC raised its stake in Intercontinental Exchange by 130.2% in the third quarter. ProVise Management Group LLC now owns 54,525 shares of the financial services provider’s stock valued at $8,289,000 after purchasing an additional 30,835 shares in the last quarter. EagleClaw Capital Managment LLC lifted its position in Intercontinental Exchange by 1.0% during the third quarter. EagleClaw Capital Managment LLC now owns 70,450 shares of the financial services provider’s stock valued at $10,711,000 after purchasing an additional 705 shares during the last quarter. William Blair Investment Management LLC grew its stake in Intercontinental Exchange by 21.0% in the 3rd quarter. William Blair Investment Management LLC now owns 7,013 shares of the financial services provider’s stock worth $1,066,000 after buying an additional 1,215 shares in the last quarter. Money Concepts Capital Corp purchased a new position in Intercontinental Exchange in the 3rd quarter worth approximately $232,000. Finally, Allworth Financial LP grew its stake in Intercontinental Exchange by 8.9% in the 3rd quarter. Allworth Financial LP now owns 9,331 shares of the financial services provider’s stock worth $1,419,000 after buying an additional 766 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Trending Headlines about Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: ICE is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
• Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
• Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
• Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
• Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
• Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
• Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants.

Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.