Insider Selling: Intercontinental Exchange, Inc. (NYSE:ICE) General Counsel Sells $259,380.68 in Stock

Intercontinental Exchange, Inc. (NYSE:ICE) General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $136.89 on Monday. The business’s fifty day simple moving average is $134.52 and its two-hundred day simple moving average is $132.90. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $140.43. The company has a market cap of $78.52 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 2.55 and a beta of 1.06.

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

Hedge Funds Weigh In On Intercontinental Exchange

A number of institutional investors and hedge funds have recently modified their holdings of ICE. Scarborough Advisors LLC bought a new position in Intercontinental Exchange in the 4th quarter worth $25,000. Annapolis Financial Services LLC raised its holdings in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares during the period. Jones Financial Companies Lllp bought a new stake in Intercontinental Exchange during the third quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange during the first quarter valued at about $26,000. Finally, Fortitude Family Office LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $28,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent analyst reports. Citigroup boosted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Rosenblatt Securities restated a “buy” rating and set a $164.00 target price on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Keefe, Bruyette & Woods cut their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.29.

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.