Norges Bank acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 8,756,655 shares of the financial services provider’s stock, valued at approximately $1,418,228,000.
A number of other hedge funds have also bought and sold shares of ICE. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Steph & Co. grew its stake in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares in the last quarter. Dorato Capital Management purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $29,000. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $30,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Intercontinental Exchange
In other news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 12,001 shares of company stock valued at $1,847,820. 0.84% of the stock is currently owned by insiders.
Intercontinental Exchange Stock Performance
Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $1.72 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on ICE. UBS Group restated a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Barclays restated an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $194.60.
Read Our Latest Stock Analysis on ICE
More Intercontinental Exchange News
Here are the key news stories impacting Intercontinental Exchange this week:
- Positive Sentiment: CEO Jeffrey Sprecher’s comments about pursuing 24/7 on-chain perps and exploring ties with Hyperliquid suggest ICE could expand into a fast-growing crypto trading niche. Article: NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perps
- Positive Sentiment: ICE said natural gas and power open interest hit record levels in May, pointing to strong trading volumes and healthy demand on its exchanges. Article: Open interest in natural gas and power on ICE hits record in May
- Neutral Sentiment: ICE’s CEO also highlighted exploratory discussions with Hyperliquid, reinforcing the company’s interest in crypto-market infrastructure but without any finalized deal or launch yet. Article: Intercontinental Exchange Owner Says This 11-Person Crypto Team Is Bigger Than Nasdaq
- Negative Sentiment: General Counsel Andrew Surdykowski sold 4,573 shares, adding to near-term concern around insider confidence. Article: Intercontinental Exchange General Counsel Andrew Surdykowski Sells 4,573 Shares
- Negative Sentiment: Director Sharon Bowen also sold shares recently, which may reinforce the cautious tone around the stock. Article: Intercontinental Exchange Director Sharon Bowen Sells 667 Shares
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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