GDS Wealth Management Sells 12,922 Shares of Intercontinental Exchange Inc. $ICE

GDS Wealth Management trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 16.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,403 shares of the financial services provider’s stock after selling 12,922 shares during the period. GDS Wealth Management’s holdings in Intercontinental Exchange were worth $11,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $28,000. Activest Wealth Management increased its position in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the period. Westside Investment Management Inc. bought a new position in Intercontinental Exchange during the 2nd quarter worth approximately $29,000. McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $30,000. Finally, Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $31,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company’s stock, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 24,098 shares of company stock valued at $4,024,000. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. TD Cowen dropped their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a report on Monday, October 13th. Finally, Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $194.70.

Intercontinental Exchange Trading Up 0.5%

Shares of Intercontinental Exchange stock opened at $153.56 on Thursday. The stock has a market capitalization of $87.56 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The stock has a 50 day moving average price of $158.91 and a two-hundred day moving average price of $172.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business earned $1.55 EPS. Intercontinental Exchange’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.