Intercontinental Exchange Inc. $ICE Shares Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Intercontinental Exchange Inc. by 50.1%, owning 31,036 shares valued at approximately $5.35 million as of the latest SEC disclosure.
• Intercontinental Exchange reported a quarterly earnings per share of $1.81, exceeding estimates, with revenues of $3.26 billion, a 9.8% increase compared to the previous year.
• Analyst price targets for Intercontinental Exchange have been raised by multiple firms, with an average target of $194.92, indicating a positive outlook from the market.

Ieq Capital LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,036 shares of the financial services provider's stock after acquiring an additional 10,358 shares during the period. Ieq Capital LLC's holdings in Intercontinental Exchange were worth $5,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ICE. REAP Financial Group LLC increased its position in 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 purchasing an additional 91 shares during the period. 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. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $29,000. Rakuten Securities Inc. raised its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares in the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange in the first quarter worth about $30,000. Institutional investors own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares of the company's stock, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 231,678 shares of company stock valued at $42,358,043. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $0.68 during midday trading on Wednesday, hitting $174.41. The stock had a trading volume of 985,568 shares, compared to its average volume of 2,972,945. The firm's fifty day moving average is $181.88 and its two-hundred day moving average is $174.66. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a market capitalization of $99.84 billion, a PE ratio of 33.48, a P/E/G ratio of 2.11 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.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $2.50 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company's quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analyst Ratings Changes

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