Martha Tirinnanzi Sells 1,340 Shares of Intercontinental Exchange (NYSE:ICE) Stock

Intercontinental Exchange Inc. (NYSE:ICE) Director Martha Tirinnanzi sold 1,340 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the completion of the transaction, the director directly owned 3,747 shares of the company’s stock, valued at $603,866.52. This trade represents a 26.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $162.46 on Friday. The stock’s fifty day simple moving average is $144.90 and its 200 day simple moving average is $151.50. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $91.20 billion, a PE ratio of 22.95, a PEG ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.76.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the firm earned $1.81 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Hedge Funds Weigh In On Intercontinental Exchange

A number of large investors have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in Intercontinental Exchange by 11,968.7% during the second quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock worth $13,342,784,000 after acquiring an additional 107,482,962 shares in the last quarter. J. Stern & Co. LLP grew its stake in Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares in the last quarter. BlackRock Inc. bought a new position in Intercontinental Exchange in the second quarter valued at approximately $6,245,085,000. Norges Bank acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $1,418,228,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $714,869,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ICE shares. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. Piper Sandler reduced their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. UBS Group reissued a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $183.33.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.