Whalen Wealth Management Inc. bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,427 shares of the financial services provider’s stock, valued at approximately $422,000.
Several other large investors also recently modified their holdings of ICE. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. Rakuten Securities Inc. bought a new position in Intercontinental Exchange during the second quarter valued at $26,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange during the fourth quarter valued at $28,000. Swiss RE Ltd. purchased a new stake in Intercontinental Exchange in the fourth quarter worth $28,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Intercontinental Exchange Price Performance
Intercontinental Exchange stock opened at $162.89 on Tuesday. The firm has a market capitalization of $91.45 billion, a P/E ratio of 23.01, a PEG ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.65. 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 business has a fifty day moving average price of $142.80 and a 200-day moving average price of $151.54.
Insider Buying and Selling
In other news, SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,227 shares of company stock worth $2,598,301 over the last quarter. 0.84% of the stock is owned by corporate insiders.
Analyst Ratings Changes
ICE has been the topic of several research reports. Morgan Stanley lowered their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. The Goldman Sachs Group cut their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. TD Cowen restated a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Piper Sandler dropped their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.33.
Check Out Our Latest Analysis on ICE
Intercontinental Exchange Company 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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