FORA Capital LLC Sells 24,912 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• FORA Capital LLC reduced its stake in Intercontinental Exchange Inc. by 68.2%, owning 11,598 shares valued at $2,001,000 after selling 24,912 shares in Q1.
• Institutional investors and hedge funds collectively own 89.30% of Intercontinental Exchange's stock, with several firms adjusting their positions during the same period.
• Intercontinental Exchange's latest earnings report showed an EPS of $1.81, exceeding analysts' expectations, alongside a revenue increase of 9.8% year-over-year.

FORA Capital LLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 68.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,598 shares of the financial services provider's stock after selling 24,912 shares during the quarter. FORA Capital LLC's holdings in Intercontinental Exchange were worth $2,001,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Tsfg LLC boosted its position in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of 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 buying an additional 143 shares during the last quarter. REAP Financial Group LLC lifted its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange during the 1st quarter valued at about $30,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Intercontinental Exchange during the 1st quarter valued at about $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded down $0.54 during trading hours on Monday, reaching $176.60. 1,775,543 shares of the company's stock were exchanged, compared to its average volume of 2,915,306. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock has a market capitalization of $101.09 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.11 and a beta of 1.10. The business has a fifty day moving average price of $182.07 and a 200-day moving average price of $174.59. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its 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. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley lifted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Barclays boosted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $194.92.

Insider Transactions at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 610 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $179.76, for a total transaction of $109,653.60. Following the sale, the director owned 3,519 shares in the company, valued at approximately $632,575.44. This represents a 14.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Warren Gardiner sold 1,570 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total value of $280,166.50. Following the sale, the chief financial officer owned 22,106 shares in the company, valued at $3,944,815.70. The trade was a 6.63% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 449,993 shares of company stock valued at $81,486,507. 1.00% of the stock is owned by insiders.

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.