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 Intercontinental Exchange stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the transaction, the senior vice president owned 15,863 shares in the company, valued at $2,538,080. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, August 20th, Douglas Foley sold 1,600 shares of Intercontinental Exchange stock. The stock was sold at an average price of $160.00, for a total value of $256,000.00.
• On Wednesday, August 5th, Douglas Foley sold 7,300 shares of Intercontinental Exchange stock. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $2.91 during midday trading on Wednesday, reaching $153.99. The stock had a trading volume of 2,788,716 shares, compared to its average volume of 3,913,662. 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 cap of $86.45 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.53 and a beta of 0.93. The firm has a fifty day simple moving average of $152.00 and a two-hundred day simple moving average of $151.73. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $176.05.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS 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 company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Institutional Trading of Intercontinental Exchange

A number of institutional investors have recently added to or reduced their stakes in the stock. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange during the fourth quarter worth $30,000. Rakuten Securities Inc. acquired a new stake in Intercontinental Exchange in the second quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in Intercontinental Exchange by 71.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 244 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 102 shares during the last quarter. Finally, Gables Capital Management Inc. purchased a new position in shares of Intercontinental Exchange in the second quarter valued at $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ICE shares. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. The Goldman Sachs Group dropped their target price 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. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Barclays restated an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Piper Sandler dropped their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. One 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.17.

Intercontinental Exchange Company Profile

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.