10,244 Shares in Intercontinental Exchange Inc. $ICE Purchased by Vise Technologies Inc.

Key Points

• Vise Technologies purchased 10,244 shares of Intercontinental Exchange during the second quarter, valued at approximately $1.26 million. Institutional investors collectively own 89.3% of ICE’s outstanding shares.
• Analysts maintain a generally positive outlook, with ICE receiving a consensus “Moderate Buy” rating and an average price target of $183.33. Recent targets range from $163 to $190.
• ICE reported quarterly EPS of $1.90, exceeding estimates of $1.84, while revenue rose 4.8% year over year to $3.61 billion. Shares opened at $161.29, and insiders have sold roughly $3.04 million of stock over the past 90 days.

Vise Technologies Inc. bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,244 shares of the financial services provider's stock, valued at approximately $1,261,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after acquiring an additional 1,169 shares during the period. Empowered Funds LLC boosted its holdings in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC boosted its holdings in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock valued at $381,000 after purchasing an additional 289 shares during the period. NewEdge Advisors LLC grew its position in Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock worth $48,894,000 after purchasing an additional 6,373 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ICE shares. Piper Sandler cut their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. TD Cowen reissued a "buy" rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Barclays restated an "overweight" rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Morgan Stanley decreased their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. One 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 MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average price target of $183.33.

Intercontinental Exchange Trading Up 1.7%

Shares of ICE opened at $161.29 on Friday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $142.34 and a 200-day simple moving average of $151.69. The stock has a market cap of $90.55 billion, a PE ratio of 22.78, a PEG ratio of 1.58 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter last year, the company earned $1.81 EPS. Intercontinental Exchange's revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the sale, the chief technology officer 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director owned 20,132 shares of the company's stock, valued at $2,807,608.72. This trade represents a 6.21% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,200 shares of company stock valued at $3,035,385. Insiders own 0.84% of the company's stock.

About Intercontinental Exchange

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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