Pictet Asset Management Holding SA Has $54.09 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Pictet Asset Management cut its stake in Intercontinental Exchange by 9.4% in the first quarter, selling 35,892 shares and ending with 343,947 shares valued at about $54.1 million.
• Insiders sold shares over the past three months, including CTO Mayur Kapani and Director William Jefferson Hague, with total insider sales of 13,425 shares worth about $2.0 million.
• Intercontinental Exchange reported strong first-quarter results, beating earnings and revenue estimates, while analysts maintained a Moderate Buy view with an average target price of $189.36.

Pictet Asset Management Holding SA decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,947 shares of the financial services provider's stock after selling 35,892 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Intercontinental Exchange worth $54,095,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ICONIQ Capital LLC grew its stake in Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after acquiring an additional 56 shares in the last quarter. Mechanics Financial Corp lifted its position in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock worth $994,000 after purchasing an additional 60 shares in the last quarter. Mission Wealth Management LP lifted its position in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock worth $423,000 after purchasing an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock worth $548,000 after purchasing an additional 63 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock worth $681,000 after purchasing an additional 63 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the company's stock in a transaction on Thursday, May 14th. The shares were 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 directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William Jefferson Hague sold 1,333 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,425 shares of company stock valued at $2,046,324 in the last three months. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

NYSE ICE opened at $122.76 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $69.42 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. The company has a 50 day moving average price of $147.11 and a two-hundred day moving average price of $157.36. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange's quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.72 EPS. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ICE. Weiss Ratings lowered shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Barclays reissued an "overweight" rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. TD Cowen dropped their price target on shares of Intercontinental Exchange from $193.00 to $153.00 and set a "buy" rating on the stock in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Finally, UBS Group reissued a "buy" rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $189.36.

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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