Intercontinental Exchange Inc. $ICE Stock Holdings Lowered by DRW Securities LLC

Key Points

• DRW Securities LLC has reduced its stake in Intercontinental Exchange Inc. by 65.3%, now holding 1,372 shares valued at approximately $237,000.
• Notable increases in investment were observed from Tsfg LLC, Activest Wealth Management, and Rakuten Securities, with growths of 187.3%, 4,050.0%, and 595.8% respectively in the first quarter.
• Analysts are optimistic, with multiple brokerages raising their target prices for Intercontinental Exchange, culminating in an average target price of $194.92 and a consensus rating of "Moderate Buy."

DRW Securities LLC cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 65.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,372 shares of the financial services provider's stock after selling 2,581 shares during the quarter. DRW Securities LLC's holdings in Intercontinental Exchange were worth $237,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Junto Capital Management LP bought a new position in Intercontinental Exchange during the first quarter worth $19,897,000. Activest Wealth Management lifted its stake in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Vident Advisory LLC lifted its stake in Intercontinental Exchange by 30.0% during the first quarter. Vident Advisory LLC now owns 28,327 shares of the financial services provider's stock worth $4,887,000 after purchasing an additional 6,543 shares during the last quarter. Kodai Capital Management LP acquired a new stake in Intercontinental Exchange in the first quarter worth $33,877,000. Finally, Evergreen Capital Management LLC increased its position in Intercontinental Exchange by 3.7% in the first quarter. Evergreen Capital Management LLC now owns 3,533 shares of the financial services provider's stock worth $609,000 after buying an additional 125 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $0.26 during trading hours on Friday, reaching $174.26. 3,104,192 shares of the company's stock traded hands, compared to its average volume of 2,714,532. The firm has a market capitalization of $99.75 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The business's fifty day simple moving average is $181.49 and its two-hundred day simple moving average is $174.77.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly 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 company had revenue of $3.26 billion for 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%.The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 1,570 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total transaction of $280,166.50. Following the transaction, the chief financial officer directly owned 22,106 shares of the company's stock, valued at approximately $3,944,815.70. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 227,830 shares of company stock valued at $41,668,789. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ICE shares. 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 research note on Tuesday, July 8th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.