MBB Public Markets I LLC Takes Position in Intercontinental Exchange Inc. $ICE

Key Points

• MBB Public Markets I LLC has acquired a new position in Intercontinental Exchange Inc. by purchasing 1,817 shares, valued at approximately $313,000.
• Analysts have raised their price targets for Intercontinental Exchange, with UBS Group setting a target of $210.00, Barclays at $212.00, and Piper Sandler at $202.00, indicating a consensus rating of "Moderate Buy."
• Recent insider transactions included Director Duriya M. Farooqui selling 2,036 shares and Director Judith A. Sprieser selling 2,900 shares, reflecting a notable decrease in their ownership of the company.

MBB Public Markets I LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,817 shares of the financial services provider's stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fielder Capital Group LLC boosted its stake in Intercontinental Exchange by 2.2% during the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after buying an additional 61 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in Intercontinental Exchange by 4.2% during the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock worth $259,000 after acquiring an additional 61 shares during the last quarter. Berkeley Capital Partners LLC grew its stake in shares of Intercontinental Exchange by 1.1% in the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock valued at $973,000 after buying an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in shares of Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after buying an additional 63 shares in the last quarter. Finally, Values Added Financial LLC grew its stake in shares of Intercontinental Exchange by 4.4% in the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 610 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $179.76, for a total value of $109,653.60. Following the completion of the sale, the director directly owned 3,519 shares of the company's stock, valued at approximately $632,575.44. The trade was a 14.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith A. Sprieser sold 2,900 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company's stock, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,730 shares of company stock worth $42,171,892. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Down 1.2%

Shares of NYSE ICE traded down $2.16 during midday trading on Friday, hitting $174.02. 2,300,528 shares of the company's stock were exchanged, compared to its average volume of 2,489,475. 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 Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a market cap of $99.61 billion, a PE ratio of 33.40, a P/E/G ratio of 2.10 and a beta of 1.10. The firm's fifty day simple moving average is $180.62 and its 200-day simple moving average is $174.97.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ICE shares. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Barclays lifted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $194.92.

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.