Vident Advisory LLC Purchases 6,543 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Vident Advisory LLC increased its stake in Intercontinental Exchange Inc. by 30% during the first quarter, bringing its total shares to 28,327, valued at nearly $4.9 million.
• Insider sales have taken place, with directors Martha A. Tirinnanzi and Duriya M. Farooqui selling a combined total of 2,646 shares, reflecting significant decreases in their ownership positions.
• Recent analyst ratings indicate a generally positive outlook for Intercontinental Exchange, with multiple brokerages raising their price targets and a consensus rating of "Moderate Buy."

Vident Advisory LLC lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 30.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,327 shares of the financial services provider's stock after acquiring an additional 6,543 shares during the period. Vident Advisory LLC's holdings in Intercontinental Exchange were worth $4,887,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fielder Capital Group LLC raised its stake in shares of Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock valued at $484,000 after acquiring an additional 61 shares during the period. E Fund Management Co. Ltd. raised its stake in shares of Intercontinental Exchange by 4.2% in the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 61 shares during the period. Berkeley Capital Partners LLC raised its stake in shares of Intercontinental Exchange by 1.1% in the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock valued at $973,000 after acquiring an additional 62 shares during the period. GPS Wealth Strategies Group LLC raised its stake in shares of Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 63 shares during the period. Finally, Values Added Financial LLC raised its stake in shares of Intercontinental Exchange by 4.4% in the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays raised their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, UBS Group raised their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Stock Performance

ICE traded down $0.17 during trading on Wednesday, reaching $174.92. 1,902,977 shares of the company's stock were exchanged, compared to its average volume of 2,978,968. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $100.13 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The company's fifty day simple moving average is $181.88 and its 200-day simple moving average is $174.66. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 EPS. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director directly owned 14,299 shares of the company's stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares in the company, valued at $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 have sold 231,678 shares of company stock valued at $42,358,043 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Company 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.