Intercontinental Exchange Inc. (NYSE:ICE – Get Free Report) President Benjamin Jackson sold 7,332 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $175.01, for a total value of $1,283,173.32. Following the sale, the president owned 156,932 shares of the company’s stock, valued at $27,464,669.32. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Benjamin Jackson also recently made the following trade(s):
- On Thursday, November 5th, Benjamin Jackson sold 400 shares of Intercontinental Exchange stock. The shares were sold at an average price of $177.90, for a total value of $71,160.00.
- On Tuesday, September 1st, Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58.
Intercontinental Exchange Price Performance
Intercontinental Exchange stock opened at $172.28 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.94. The stock has a market capitalization of $96.28 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84. The stock has a fifty day moving average of $158.67 and a 200-day moving average of $154.64.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.71 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Intercontinental Exchange
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $6,245,085,000. Lombard Odier Asset Management Europe Ltd acquired a new stake in Intercontinental Exchange during the first quarter worth approximately $11,498,000. HF Advisory Group LLC increased its holdings in Intercontinental Exchange by 147.5% in the third quarter. HF Advisory Group LLC now owns 15,384 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 9,169 shares in the last quarter. NBT Bank N.A. bought a new stake in Intercontinental Exchange in the third quarter worth approximately $1,775,000. Finally, Munich Reinsurance Co Stock Corp in Munich increased its holdings in Intercontinental Exchange by 35.5% in the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider’s stock worth $40,817,000 after purchasing an additional 86,897 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.
More Intercontinental Exchange News
Here are the key news stories impacting Intercontinental Exchange this week:
- Positive Sentiment: ICE is backing a U.S. perpetual-futures market built on Hyperliquid infrastructure, a potential expansion of its digital-asset offerings. ICE backs US perpetual futures market built on Hyperliquid infrastructure
- Positive Sentiment: Twenty-four ETFs added ICE shares on Nov. 3, suggesting added demand from fund portfolios. 24 ETFs Add to Intercontinental Exchange on Nov. 3
- Positive Sentiment: An analyst valuation assessment put ICE’s fair value slightly higher, while also considering growth prospects and risks. Intercontinental Exchange Stock Fair Value Edges Higher As Analysts Weigh Growth And Risks
- Neutral Sentiment: ICE recently reached a record high, reflecting strong share-price momentum, though the milestone itself does not establish a new fundamental catalyst. Intercontinental Exchange Reaches a Fresh All-Time High
- Neutral Sentiment: CFO Warren Gardiner is scheduled to present at the J.P. Morgan Ultimate Services Investor Conference on Nov. 17; no new financial guidance is noted. CFO Warren Gardiner to Present at Investor Conference
- Negative Sentiment: Apple, Amazon and Tesla reportedly oppose participation in an NYSE-parent-backed blockchain stock venue, raising questions about adoption of ICE’s tokenized-equities initiative. Can Companies Stop Their Shares From Being Tokenized?
- Negative Sentiment: Several ICE executives reported share sales totaling about $2.35 million, including President Benjamin Jackson and Chief Accounting Officer James Namkung. The sales may weigh on sentiment, although executives retained substantial holdings; insider sales alone do not establish a negative outlook. SEC insider transaction filing
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on ICE. TD Cowen upped their price objective on shares of Intercontinental Exchange from $167.00 to $182.00 and gave the stock a “hold” rating in a research report on Friday, October 30th. Piper Sandler restated an “overweight” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. Raymond James Financial lowered their price target on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a report on Monday, October 5th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Weiss Ratings upgraded Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $189.25.
Check Out Our Latest Analysis on ICE
About Intercontinental Exchange
Intercontinental Exchange, Inc (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants.
Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.
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