Intercontinental Exchange Inc. $ICE is Ruane Cunniff & Goldfarb L.P.'s 6th Largest Position

Ruane Cunniff & Goldfarb L.P. lowered its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,703,907 shares of the financial services provider's stock after selling 39,384 shares during the quarter. Intercontinental Exchange accounts for about 6.8% of Ruane Cunniff & Goldfarb L.P.'s portfolio, making the stock its 6th largest position. Ruane Cunniff & Goldfarb L.P. owned about 0.48% of Intercontinental Exchange worth $437,925,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ICE. Brighton Jones LLC lifted 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 last quarter. Empowered Funds LLC lifted 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 last quarter. Sivia Capital Partners LLC lifted 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 last quarter. NewEdge Advisors LLC lifted 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 last quarter. Finally, Treasurer of the State of North Carolina lifted 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 last quarter. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler reiterated 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. Barclays reiterated an "overweight" rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. UBS Group reiterated a "buy" rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 target price for the company. Finally, Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Insider Activity

In related news, Director Sharon Bowen sold 667 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director owned 15,077 shares of the company's stock, valued at $2,280,848.56. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,092 shares of company stock worth $1,860,424 over the last 90 days. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $140.26 on Friday. The firm has a 50-day moving average price of $154.22 and a 200-day moving average price of $159.27. The firm has a market capitalization of $79.32 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12-month low of $136.67 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business's revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $1.72 EPS. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

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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