Lombard Odier Asset Management Europe Ltd Takes Position in Intercontinental Exchange Inc. $ICE

Key Points

• Lombard Odier Asset Management Europe Ltd opened a new position in Intercontinental Exchange, buying 73,104 shares worth about $11.5 million in the first quarter.
• The stock has seen continued institutional interest, with 89.3% of shares now held by institutional investors and hedge funds, even as several insiders have recently sold shares.
• Intercontinental Exchange reported better-than-expected quarterly results, with EPS of $2.35 and revenue of $3.67 billion, and analysts currently rate the stock a Moderate Buy with an average price target of $181.58.

Lombard Odier Asset Management Europe Ltd acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 73,104 shares of the financial services provider's stock, valued at approximately $11,498,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew 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 in the last quarter. Empowered Funds LLC increased its stake in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after buying an additional 1,189 shares during the period. Sivia Capital Partners LLC lifted its position in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock worth $381,000 after buying an additional 289 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock valued at $3,892,000 after buying an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Intercontinental Exchange by 2.4% during the 2nd 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 buying an additional 6,373 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 2,490 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares of the company's stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief technology officer owned 64,869 shares of the company's stock, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,425 shares of company stock worth $2,046,324 in the last three months. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 1.9%

Intercontinental Exchange stock opened at $145.93 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $82.53 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.51 and a beta of 0.94. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The company's fifty day moving average price is $139.50 and its two-hundred day moving average price is $154.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business's quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. Piper Sandler reduced their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Weiss Ratings downgraded Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $181.58.

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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