Sands Capital Management LLC reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,502,896 shares of the financial services provider’s stock after selling 174,370 shares during the period. Intercontinental Exchange makes up about 2.7% of Sands Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Sands Capital Management LLC’s holdings in Intercontinental Exchange were worth $891,249,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in ICE. Norges Bank acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $1,418,228,000. Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after purchasing an additional 4,067,922 shares in the last quarter. Boston Partners increased its holdings in Intercontinental Exchange by 148.6% in the 4th quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock valued at $519,701,000 after purchasing an additional 1,914,851 shares in the last quarter. Focus Partners Wealth increased its holdings in Intercontinental Exchange by 569.8% in the 4th quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider’s stock valued at $358,142,000 after purchasing an additional 1,880,835 shares in the last quarter. Finally, Waverton Investment Management Ltd increased its holdings in Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after purchasing an additional 1,521,467 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.
Intercontinental Exchange Stock Down 0.2%
Shares of Intercontinental Exchange stock opened at $140.26 on Monday. The business has a 50-day moving average of $154.22 and a 200-day moving average of $159.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $79.32 billion, a PE ratio of 20.42, a P/E/G ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a 1-year low of $136.67 and a 1-year high of $189.35.
Insiders Place Their Bets
In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,092 shares of company stock valued at $1,860,424 over the last ninety days. Insiders own 0.84% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Friday, March 6th. UBS Group reiterated a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $193.00.
Read Our Latest Analysis on ICE
Intercontinental Exchange Profile
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.
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