OFI Invest Asset Management Sells 11,482 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• OFI Invest Asset Management reduced its stake in Intercontinental Exchange Inc. by 95.1%, selling 11,482 shares and holding only 596 shares, worth approximately $109,000 at the end of the quarter.
• Multiple institutional investors have significantly increased their positions in Intercontinental Exchange, with Activest Wealth Management raising its stake by 4,050% during the first quarter.
• Analyst ratings for Intercontinental Exchange are positive, with price targets increased by firms like Piper Sandler and UBS Group, reflecting strong growth expectations.

OFI Invest Asset Management decreased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 95.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 596 shares of the financial services provider's stock after selling 11,482 shares during the quarter. OFI Invest Asset Management's holdings in Intercontinental Exchange were worth $109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tsfg LLC increased its position in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares in the last quarter. Rakuten Securities Inc. increased its position in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares in the last quarter. Activest Wealth Management increased its position in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after buying an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange in the first quarter worth about $30,000. Finally, Global Trust Asset Management LLC purchased a new stake in Intercontinental Exchange in the first quarter worth about $31,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Piper Sandler upped their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a "moderate buy" rating in a research note on Monday, October 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, September 25th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $197.10.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director owned 18,169 shares of the company's stock, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,956 shares of company stock worth $43,789,542 over the last three months. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $157.51 on Monday. The stock has a market capitalization of $90.16 billion, a PE ratio of 30.23, a P/E/G ratio of 1.93 and a beta of 1.08. The business has a 50 day simple moving average of $174.01 and a two-hundred day simple moving average of $174.11. 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 1-year low of $142.29 and a 1-year high of $189.35.

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

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.

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