Intercontinental Exchange (NYSE:ICE) Stock: Insider Andrew Surdykowski Sells 4,575 Shares

Key Points

• General Counsel Andrew Surdykowski sold 4,575 shares at an average price of $175.05, totaling about $800,854. After the sale, he held 40,554 shares, a 10.14% reduction in his position.
• Intercontinental Exchange reported quarterly EPS of $2.02, beating the $1.97 consensus estimate, while revenue rose 14.7% year over year to $3.63 billion.
• Analysts maintained a generally positive outlook: the stock has a “Moderate Buy” consensus rating and an average price target of $189.25.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) General Counsel Andrew Surdykowski sold 4,575 shares of Intercontinental Exchange stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $175.05, for a total transaction of $800,853.75. Following the completion of the sale, the general counsel owned 40,554 shares in the company, valued at approximately $7,098,977.70. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intercontinental Exchange Trading Down 1.5%

Intercontinental Exchange stock traded down $2.79 during mid-day trading on Thursday, reaching $177.80. 2,977,146 shares of the company traded hands, compared to its average volume of 3,768,874. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03. The firm's 50 day moving average price is $159.63 and its 200 day moving average price is $154.70. The firm has a market capitalization of $99.36 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 1.55 and a beta of 0.84. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.38.

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

Institutional Trading of Intercontinental Exchange

A number of hedge funds have recently made changes to their positions in ICE. BNP Paribas raised its holdings in Intercontinental Exchange by 25.4% in the third quarter. BNP Paribas now owns 10,318 shares of the financial services provider's stock worth $1,569,000 after buying an additional 2,093 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in shares of Intercontinental Exchange by 3.1% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 1,015,430 shares of the financial services provider's stock worth $154,376,000 after purchasing an additional 30,729 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Intercontinental Exchange by 9,175.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 371 shares of the financial services provider's stock worth $56,000 after purchasing an additional 367 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Intercontinental Exchange by 16.2% in the 3rd quarter. Whittier Trust Co. now owns 2,287 shares of the financial services provider's stock worth $357,000 after purchasing an additional 319 shares in the last quarter. Finally, Saranac Partners Ltd raised its stake in shares of Intercontinental Exchange by 4.3% in the third quarter. Saranac Partners Ltd now owns 56,022 shares of the financial services provider's stock worth $9,460,000 after purchasing an additional 2,328 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ICE. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $180.00 to $190.00 and gave the stock an "outperform" rating in a report on Friday, October 30th. Weiss Ratings upgraded Intercontinental Exchange from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 21st. Piper Sandler reissued an "overweight" rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. UBS Group restated a "buy" rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Morgan Stanley lifted their price target on Intercontinental Exchange from $163.00 to $173.00 and gave the company an "equal weight" rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $189.25.

About Intercontinental Exchange

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.