Landscape Capital Management L.L.C. Sells 1,720 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Landscape Capital Management L.L.C. reduced its holdings in Intercontinental Exchange Inc. by 39.6%, now owning 2,626 shares worth $453,000 after selling 1,720 shares in the first quarter.
• Institutional investors now hold 89.30% of Intercontinental Exchange's stock, with significant stake increases from several hedge funds such as REAP Financial Group LLC and Rakuten Securities Inc..
• Intercontinental Exchange recently reported a quarterly earnings per share (EPS) of $1.81, surpassing estimates, with a revenue increase of 9.8% compared to the previous year.

Landscape Capital Management L.L.C. trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,626 shares of the financial services provider's stock after selling 1,720 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Intercontinental Exchange were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. REAP Financial Group LLC lifted its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the last quarter. Tsfg LLC lifted its holdings in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after buying an additional 103 shares during the last quarter. Menard Financial Group LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $29,000. Rakuten Securities Inc. lifted its holdings in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange in the 1st quarter worth approximately $30,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ICE has been the subject of several analyst reports. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. UBS Group boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Barclays boosted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Stock Performance

NYSE ICE traded down $0.26 during trading on Friday, hitting $174.26. The company's stock had a trading volume of 3,104,192 shares, compared to its average volume of 2,714,532. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $181.49 and a 200 day moving average price of $174.83. The firm has a market cap of $99.75 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

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, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, 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 transaction of $27,463,500.00. Following the sale, the chief executive officer directly owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. The trade was a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,830 shares of company stock valued at $41,668,789 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

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.