5,961 Shares in Intercontinental Exchange Inc. $ICE Bought by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP purchased 5,961 shares of Intercontinental Exchange Inc. (NYSE: ICE) in Q1, valued at approximately $1,028,000.
• Institutional investors now hold 89.30% of the company's stock, with significant increases in holdings from firms like Price T Rowe Associates and GAMMA Investing in the past quarter.
• Intercontinental Exchange's recent earnings report showed a 9.8% year-over-year revenue increase, with $3.26 billion in revenue and $1.81 EPS, surpassing consensus estimates.

Concentric Capital Strategies LP bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,961 shares of the financial services provider's stock, valued at approximately $1,028,000.

Other institutional investors also recently bought and sold shares of the company. REAP Financial Group LLC grew its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the period. Tsfg LLC grew its holdings in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. grew its holdings in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the period. Finally, Activest Wealth Management grew its holdings in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 162 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares of the company's stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director directly owned 14,299 shares of the company's stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,730 shares of company stock valued at $42,174,868. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays raised their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. UBS Group raised their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler raised their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Trading Down 0.2%

ICE traded down $0.42 during mid-day trading on Monday, hitting $173.85. 2,322,612 shares of the stock were exchanged, compared to its average volume of 2,730,560. The company has a market cap of $99.52 billion, a PE ratio of 33.37, a PEG ratio of 2.08 and a beta of 1.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average is $181.49 and its two-hundred day moving average is $174.88. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

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

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.