Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) CEO Sells 58,389 Shares of Stock

Intercontinental Exchange, Inc. (NYSE:ICE) CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $1.95 during mid-day trading on Wednesday, hitting $144.41. 2,852,883 shares of the company were exchanged, compared to its average volume of 2,356,024. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day simple moving average is $135.81 and its two-hundred day simple moving average is $133.74. The company has a market capitalization of $82.83 billion, a P/E ratio of 32.67, a PEG ratio of 2.63 and a beta of 1.06. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $144.47.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. Intercontinental Exchange’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 earnings per share. Analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds and other institutional investors have recently made changes to their positions in the business. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $25,000. Annapolis Financial Services LLC grew its position in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the first quarter valued at $26,000. Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ICE shares. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Bank of America reduced their price target on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Citigroup raised their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price target for the company from $143.00 to $167.00 in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $151.43.

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.