Intercontinental Exchange (NYSE:ICE) President Sells $71,160.00 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) President Benjamin Jackson sold 400 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $177.90, for a total value of $71,160.00. Following the completion of the transaction, the president directly owned 156,532 shares of the company’s stock, valued at $27,847,042.80. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Benjamin Jackson also recently made the following trade(s):

• On Wednesday, November 4th, Benjamin Jackson sold 7,332 shares of Intercontinental Exchange stock. The stock was sold at an average price of $175.01, for a total value of $1,283,173.32.
• On Tuesday, September 1st, Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58.

Intercontinental Exchange Stock Up 0.0%

Shares of ICE opened at $172.28 on Monday. The firm has a market cap of $96.28 billion, a P/E ratio of 23.50, a PEG ratio of 1.52 and a beta of 0.84. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.94. The stock’s 50 day moving average is $158.67 and its two-hundred day moving average is $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) last announced its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, topping 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 business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the company posted $1.71 EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts predict that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.

Key Stories Impacting Intercontinental Exchange

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $26,000. Gables Capital Management Inc. purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $31,000. James T. Borello RIA boosted its stake in shares of Intercontinental Exchange by 143.0% in the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock valued at $32,000 after buying an additional 123 shares during the period. Hughes Financial Services LLC grew its position in shares of Intercontinental Exchange by 64.4% during the third quarter. Hughes Financial Services LLC now owns 194 shares of the financial services provider’s stock worth $32,000 after buying an additional 76 shares in the last quarter. Finally, Fiduciary Financial Advisors acquired a new position in shares of Intercontinental Exchange during the second quarter worth about $33,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. Wells Fargo & Company lifted their target price on shares of Intercontinental Exchange from $160.00 to $167.00 and gave the company an “underweight” rating in a research report on Friday, October 30th. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Argus cut their target price on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.25.

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.