Intercontinental Exchange (NYSE:ICE) CTO Mayur Kapani Sells 4,272 Shares of Stock

Key Points

• Intercontinental Exchange CTO Mayur Kapani sold 4,272 shares for about $764,902 at an average price of $179.05, reducing his holdings by 5.79% to 69,480 shares.
• ICE reported quarterly EPS of $2.02, beating the $1.97 consensus, while revenue rose 14.7% year over year to $3.63 billion.
• Analysts give ICE a consensus “Moderate Buy” rating with a $189.25 price target; shares recently traded at $178.43.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CTO Mayur Kapani sold 4,272 shares of the company's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $179.05, for a total transaction of $764,901.60. Following the completion of the transaction, the chief technology officer owned 69,480 shares of the company's stock, valued at $12,440,394. This represents a 5.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded up $0.57 during mid-day trading on Friday, hitting $178.43. 2,203,673 shares of the stock were exchanged, compared to its average volume of 3,761,821. The stock's fifty day simple moving average is $160.03 and its two-hundred day simple moving average is $154.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.03. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.38. The stock has a market capitalization of $99.72 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 1.59 and a beta of 0.84.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.05. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $2.74 billion. Intercontinental Exchange had a return on equity of 15.32% and a net margin of 29.62%. The business's quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 EPS. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ICE shares. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $194.00 and gave the company an "overweight" rating in a report on Friday, October 30th. Raymond James Financial reduced their price target on shares of Intercontinental Exchange from $218.00 to $211.00 and set a "strong-buy" rating for the company in a research report on Monday, October 5th. Rothschild & Co Redburn increased their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. Weiss Ratings raised shares of Intercontinental Exchange from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 21st. Finally, Deutsche Bank restated a "buy" rating and issued a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $189.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kintegral Advisory LLC grew its stake in Intercontinental Exchange by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider's stock valued at $1,738,000 after acquiring an additional 64 shares during the period. Gilpin Wealth Management LLC increased its holdings in Intercontinental Exchange by 6.3% in the 3rd quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider's stock worth $170,000 after acquiring an additional 66 shares in the last quarter. Cornerstone Planning Group LLC raised its position in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock worth $42,000 after acquiring an additional 68 shares during the period. Chemistry Wealth Management LLC raised its position in Intercontinental Exchange by 0.9% during the third quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider's stock worth $1,182,000 after acquiring an additional 68 shares during the period. Finally, Capstone Financial Advisors Inc. raised its position in Intercontinental Exchange by 1.4% during the second quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider's stock worth $630,000 after acquiring an additional 69 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. NYSE: ICE operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.

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