111 Capital Invests $1.24 Million in Intercontinental Exchange Inc. $ICE

Key Points

• 111 Capital invested approximately $1.24 million in Intercontinental Exchange Inc., acquiring 6,755 shares during the second quarter.
• The company's stock has demonstrated strong performance recently, reporting a revenue of $3.26 billion for the last quarter, significantly beating analysts' expectations.
• Equities research analysts have been optimistic, with recent price target increases from firms such as UBS and JPMorgan, indicating a robust outlook with an average target price of $198.20.

111 Capital acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 6,755 shares of the financial services provider's stock, valued at approximately $1,239,000.

Several other large investors have also added to or reduced their stakes in the stock. Tsfg LLC boosted its stake in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Rakuten Securities Inc. boosted its position in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. Activest Wealth Management boosted its position in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Intercontinental Exchange during the 1st quarter valued at approximately $30,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $31,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $162.47 on Friday. The stock has a market cap of $93.00 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.96 and a beta of 1.08. The firm's 50-day moving average is $176.53 and its 200 day moving average is $174.67. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ICE shares. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, September 25th. Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a report on Wednesday. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. Finally, Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $198.20.

Insiders Place Their Bets

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock worth $42,187,714 in the last three months. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange 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.

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