Intercontinental Exchange Inc. $ICE Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,438,154 shares of the financial services provider’s stock after acquiring an additional 145,961 shares during the period. Geode Capital Management LLC’s holdings in Intercontinental Exchange were worth $2,270,657,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ICE. Princeton Global Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $28,000. Activest Wealth Management grew its holdings 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 buying an additional 162 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Intercontinental Exchange during the second quarter worth $29,000. McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange in the first quarter worth $30,000. Finally, Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,587 shares of company stock worth $3,989,936. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ICE shares. Piper Sandler upped their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. TD Cowen lowered their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. cut their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Stock Up 1.7%

Shares of Intercontinental Exchange stock opened at $152.09 on Wednesday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a market capitalization of $86.72 billion, a PE ratio of 29.19, a P/E/G ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average of $161.47 and a 200-day moving average of $173.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting analysts’ consensus estimates of $1.71. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Company 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.