11,075 Shares in Intercontinental Exchange Inc. $ICE Bought by Edgestream Partners L.P.

Key Points

• Edgestream Partners bought 11,075 Intercontinental Exchange shares worth approximately $1.74 million in the first quarter. Institutional investors collectively own 89.3% of ICE’s outstanding stock.
• ICE reported quarterly EPS of $1.90, exceeding the $1.84 analyst estimate, while revenue reached $3.61 billion and rose 4.8% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $183.33 versus its recent price of $151.97; however, insiders sold $2.05 million of shares over the past 90 days.

Edgestream Partners L.P. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,075 shares of the financial services provider's stock, valued at approximately $1,742,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider's stock valued at $8,770,647,000 after buying an additional 413,639 shares during the last quarter. J. Stern & Co. LLP grew its position in shares of Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. State Street Corp increased its holdings in shares of Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider's stock valued at $4,154,914,000 after acquiring an additional 837,208 shares during the period. Morgan Stanley increased its holdings in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider's stock valued at $2,571,212,000 after acquiring an additional 158,450 shares during the period. Finally, Norges Bank purchased a new stake in Intercontinental Exchange in the 4th quarter valued at $1,418,228,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares of the company's stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Down 0.3%

Intercontinental Exchange stock opened at $151.97 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35. The company has a market cap of $85.32 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 1.86 and a beta of 0.92. The stock's 50 day moving average price is $139.46 and its 200 day moving average price is $153.50.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company 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 earnings per share. Intercontinental Exchange's quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 7.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ICE shares. Weiss Ratings upgraded shares of Intercontinental Exchange from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. TD Cowen reaffirmed a "buy" rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a report on Friday. UBS Group reiterated a "buy" rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday. Wall Street Zen lowered Intercontinental Exchange from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Barclays reissued an "overweight" rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $183.33.

Intercontinental Exchange 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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