Insider Selling: Intercontinental Exchange (NYSE:ICE) CTO Sells $645,775.20 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $154.55 on Monday. The firm has a market capitalization of $86.76 billion, a P/E ratio of 21.83, a PEG ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $182.86. 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 business has a fifty day moving average price of $140.59 and a 200-day moving average price of $152.10.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ICE. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. Finally, The Goldman Sachs Group cut their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $183.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ICE. ICONIQ Capital LLC raised its position in Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares in the last quarter. Mission Wealth Management LP grew its position in Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 63 shares during the last quarter. Sather Financial Group Inc increased its stake in shares of Intercontinental Exchange by 4.7% during the 4th quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 64 shares during the last quarter. Finally, Johnson Financial Group LLC raised its holdings in shares of Intercontinental Exchange by 4.0% during the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

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.