Intercontinental Exchange Inc. (NYSE:ICE – Get Free Report) CAO James Namkung sold 3,777 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $175.00, for a total value of $660,975.00. Following the sale, the chief accounting officer directly owned 10,325 shares in the company, valued at $1,806,875. The trade was a 26.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Intercontinental Exchange Stock Down 1.0%
Intercontinental Exchange stock opened at $172.28 on Friday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $177.94. The company has a market cap of $96.28 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 1.53 and a beta of 0.84. The company has a fifty day simple moving average of $158.67 and a 200 day simple moving average of $154.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.05. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the firm posted $1.71 earnings per share. The firm’s revenue was up 14.7% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Intercontinental Exchange during the second quarter valued at about $6,245,085,000. State Street Corp increased its position in shares of Intercontinental Exchange by 1.6% during the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after purchasing an additional 415,490 shares in the last quarter. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 16.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock worth $1,454,209,000 after purchasing an additional 1,634,385 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Intercontinental Exchange in the second quarter worth about $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Intercontinental Exchange by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider’s stock worth $652,257,000 after acquiring an additional 52,910 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Wall Street Analyst Weigh In
ICE has been the subject of several research reports. Raymond James Financial lowered their price objective on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research report on Monday, October 5th. Bank of America boosted their price objective on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Wells Fargo & Company raised their price target on shares of Intercontinental Exchange from $160.00 to $167.00 and gave the stock an “underweight” rating in a research note on Friday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Finally, Jefferies Financial Group lowered their target price on Intercontinental Exchange from $189.00 to $185.00 in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $189.25.
View Our Latest Analysis on Intercontinental Exchange
Intercontinental Exchange News Roundup
Here are the key news stories impacting Intercontinental Exchange this week:
- Positive Sentiment: ICE is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
- Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
- Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
- Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
- Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
- Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
- Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing
About Intercontinental Exchange
Intercontinental Exchange, Inc (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants.
Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.
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