Traphagen Investment Advisors LLC Has $8.45 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Traphagen Investment Advisors LLC trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,682 shares of the financial services provider’s stock after selling 98 shares during the period. Intercontinental Exchange accounts for about 0.9% of Traphagen Investment Advisors LLC’s portfolio, making the stock its 19th biggest holding. Traphagen Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $8,446,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC lifted its holdings in Intercontinental Exchange by 326.3% during the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after purchasing an additional 3,460,096 shares during the last quarter. FMR LLC lifted its holdings in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Intercontinental Exchange by 285.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after purchasing an additional 1,301,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after purchasing an additional 584,400 shares during the last quarter. Finally, Samlyn Capital LLC lifted its holdings in Intercontinental Exchange by 142.2% during the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after purchasing an additional 490,671 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ICE shares. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Piper Sandler lifted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. TD Cowen started coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. The Goldman Sachs Group lifted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods dropped their price objective on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the transaction, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,795 shares of company stock worth $2,120,572 in the last 90 days. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 1.8 %

Shares of ICE stock opened at $151.79 on Wednesday. The firm has a market capitalization of $87.15 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.85 and a beta of 1.10. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $153.04 and its 200 day simple moving average is $155.79.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

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.