Douglas Foley Sells 1,600 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president owned 17,463 shares in the company, valued at approximately $2,794,080. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Douglas Foley also recently made the following trade(s):

• On Wednesday, August 5th, Douglas Foley sold 7,300 shares of Intercontinental Exchange stock. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00.

Intercontinental Exchange Stock Down 0.7%

Shares of NYSE ICE opened at $161.93 on Wednesday. The company has a 50 day simple moving average of $143.22 and a 200 day simple moving average of $151.53. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $179.20. The firm has a market cap of $90.90 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ICE shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley decreased their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Barclays restated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

Hedge Funds Weigh In On Intercontinental Exchange

A number of hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Intercontinental Exchange by 11,968.7% in the 2nd quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock worth $13,342,784,000 after acquiring an additional 107,482,962 shares in the last quarter. Vanguard Group Inc. boosted 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 in the last quarter. J. Stern & Co. LLP boosted its position in shares of Intercontinental Exchange by 17,398.1% during the 4th 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 purchasing an additional 53,798,055 shares in the last quarter. BlackRock Inc. acquired a new stake in Intercontinental Exchange during the second quarter worth approximately $6,245,085,000. Finally, State Street Corp grew its stake 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 purchasing an additional 837,208 shares during the period. Institutional investors own 89.30% of the company’s stock.

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.