Intercontinental Exchange Inc. $ICE Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden cut its stake in Intercontinental Exchange by 33.7% in the fourth quarter, selling 61,000 shares and leaving it with 120,100 shares valued at about $19.45 million.
• Despite that sale, institutional ownership remains very high, with 89.3% of ICE shares held by institutional investors and hedge funds. Several large investors, including Norges Bank, also opened new positions during the quarter.
• ICE posted strong quarterly results, beating earnings and revenue estimates with EPS of $2.35 and revenue of $3.67 billion, while analysts remain broadly positive with an average “Buy” rating and a $194.60 target price.

Forsta AP Fonden decreased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 33.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,100 shares of the financial services provider's stock after selling 61,000 shares during the period. Forsta AP Fonden's holdings in Intercontinental Exchange were worth $19,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Norges Bank acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $1,418,228,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $213,286,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $1,085,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $229,000. Finally, Linscomb Wealth Inc. boosted its stake in shares of Intercontinental Exchange by 10.0% in the fourth quarter. Linscomb Wealth Inc. now owns 14,692 shares of the financial services provider's stock valued at $2,379,000 after buying an additional 1,341 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: CEO Jeffrey Sprecher’s comments about pursuing 24/7 on-chain perps and exploring ties with Hyperliquid suggest ICE could expand into a fast-growing crypto trading niche. Article: NYSE parent ICE pushes ‘level playing field’ for 24/7 onchain perps
• Positive Sentiment: ICE said natural gas and power open interest hit record levels in May, pointing to strong trading volumes and healthy demand on its exchanges. Article: Open interest in natural gas and power on ICE hits record in May
• Neutral Sentiment: ICE’s CEO also highlighted exploratory discussions with Hyperliquid, reinforcing the company’s interest in crypto-market infrastructure but without any finalized deal or launch yet. Article: Intercontinental Exchange Owner Says This 11-Person Crypto Team Is Bigger Than Nasdaq
• Negative Sentiment: General Counsel Andrew Surdykowski sold 4,573 shares, adding to near-term concern around insider confidence. Article: Intercontinental Exchange General Counsel Andrew Surdykowski Sells 4,573 Shares
• Negative Sentiment: Director Sharon Bowen also sold shares recently, which may reinforce the cautious tone around the stock. Article: Intercontinental Exchange Director Sharon Bowen Sells 667 Shares

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 4,271 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares of the company's stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,001 shares of company stock valued at $1,847,820. Company insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ICE shares. Barclays reiterated an "overweight" rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. TD Cowen reaffirmed a "buy" rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price objective for the company. Finally, Piper Sandler reissued an "overweight" rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $194.60.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $147.85 on Friday. The firm has a market capitalization of $83.61 billion, a PE ratio of 21.52, a P/E/G ratio of 1.38 and a beta of 0.96. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The firm's 50-day simple moving average is $157.38 and its 200 day simple moving average is $160.07. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm posted $1.72 EPS. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Intercontinental Exchange Company 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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