Interchange Capital Partners LLC Sells 3,283 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Interchange Capital Partners LLC reduced its stake in Intercontinental Exchange Inc. by **85.1%**, selling **3,283 shares** and now holding **573 shares** valued at approximately **$105,000**.
• Insider transactions included **CEO Jeffrey C. Sprecher** selling **150,000 shares** for **$27.46 million** and **Director Duriya M. Farooqui** selling **2,036 shares** for **$363,100**.
• Intercontinental Exchange's stock price recently opened at **$158.25**, with a twelve-month low of **$142.29** and a high of **$189.35**; analysts currently have a **moderate buy** rating with an average target price of **$199.60**.

Interchange Capital Partners LLC lessened its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 85.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 573 shares of the financial services provider's stock after selling 3,283 shares during the period. Interchange Capital Partners LLC's holdings in Intercontinental Exchange were worth $105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tsfg LLC increased its stake 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 in the last quarter. Rakuten Securities Inc. increased 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 valued at $29,000 after purchasing an additional 143 shares in the last quarter. Activest Wealth Management increased its stake 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 in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Intercontinental Exchange in the first quarter valued at $30,000. Finally, Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange in the first quarter valued at $31,000. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The transaction 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 business's 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. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,956 shares of company stock valued at $43,789,542 in the last quarter. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

ICE has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a "moderate buy" rating in a research note on Monday, October 6th. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Barclays reissued an "overweight" rating and set a $201.00 target price (down from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $199.60.

Intercontinental Exchange Stock Down 0.3%

ICE stock opened at $158.25 on Wednesday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The firm has a market capitalization of $90.58 billion, a PE ratio of 30.37, a P/E/G ratio of 2.21 and a beta of 1.08. The stock's 50 day moving average is $172.83 and its 200-day moving average is $173.89. 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 released its quarterly 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 net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Profile

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.

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