Intercontinental Exchange Inc. $ICE Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,941 shares of the financial services provider’s stock after buying an additional 2,898 shares during the period. Wealthfront Advisers LLC’s holdings in Intercontinental Exchange were worth $9,897,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Capital Management LLC raised its position in Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 396 shares during the period. Capital Investment Advisory Services LLC purchased a new stake in Intercontinental Exchange in the first quarter valued at $349,000. Sequoia Financial Advisors LLC raised its position in Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock valued at $2,099,000 after purchasing an additional 1,879 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Intercontinental Exchange by 6.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,143 shares of the financial services provider’s stock valued at $11,927,000 after purchasing an additional 4,107 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in Intercontinental Exchange in the second quarter valued at $1,075,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ICE shares. Morgan Stanley reduced their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Barclays reiterated an “overweight” rating and issued a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.60.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the sale, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,162 shares of company stock worth $43,642,652 over the last quarter. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $157.71 on Monday. The stock’s 50-day moving average is $168.26 and its two-hundred day moving average is $173.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a market cap of $90.28 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business earned $1.52 EPS. Intercontinental Exchange’s revenue was up 9.8% on a year-over-year basis. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

About Intercontinental Exchange

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.