Amova Asset Management Americas Inc. Sells 10,108 Shares of Intercontinental Exchange Inc. $ICE

Amova Asset Management Americas Inc. lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,447 shares of the financial services provider's stock after selling 10,108 shares during the quarter. Amova Asset Management Americas Inc.'s holdings in Intercontinental Exchange were worth $14,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised 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 valued at $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC raised its position in Intercontinental Exchange by 9.0% during the first 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 raised its position in Intercontinental Exchange by 16.2% during the second 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 raised its position in Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock valued at $3,892,000 after purchasing an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock valued at $48,894,000 after purchasing an additional 6,373 shares during the period. Institutional investors own 89.30% of the company's stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares of the company's stock, valued at $6,891,887.88. The trade was a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,001 shares of company stock worth $1,847,820 over the last ninety days. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Stock Up 1.7%

Shares of NYSE:ICE opened at $141.48 on Wednesday. Intercontinental Exchange Inc. has a 52-week low of $136.67 and a 52-week high of $189.35. The stock has a market cap of $80.01 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. The business's 50 day moving average is $155.27 and its 200 day moving average is $159.60. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the business earned $1.72 EPS. The company's revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ICE shares. Piper Sandler restated an "overweight" rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price objective on the stock. Weiss Ratings downgraded Intercontinental Exchange from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 2nd. UBS Group restated a "buy" rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective on the stock in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $194.60.

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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