Insider Selling: Intercontinental Exchange (NYSE:ICE) CTO Sells 10,082 Shares of Stock

Key Points

• Mayur Kapani, the CTO of Intercontinental Exchange (NYSE:ICE), sold 10,082 shares at an average price of $158.88, amounting to a total transaction of $1,601,828.16, which resulted in a 13.39% decrease in his overall stock position.
• Intercontinental Exchange reported $1.81 EPS for the last quarter, beating estimates by $0.04, with a revenue of $3.26 billion, up 9.8% year-over-year.
• Analysts maintain a consensus "Moderate Buy" rating for ICE, with price target estimates ranging between $180.00 and $210.00.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CTO Mayur Kapani sold 10,082 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares of the company's stock, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Intercontinental Exchange Trading Down 1.1%

Intercontinental Exchange stock traded down $1.79 during trading on Friday, hitting $157.51. The company had a trading volume of 4,153,145 shares, compared to its average volume of 3,043,675. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The stock has a market cap of $90.16 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. The company's 50 day simple moving average is $174.55 and its 200-day simple moving average is $174.26.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the business earned $1.52 EPS. Intercontinental Exchange's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a "moderate buy" rating in a research report on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Exchange in a report on Wednesday. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley dropped their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 1st. Finally, UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $197.10.

Institutional Trading of Intercontinental Exchange

Large investors have recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Capital Investment Advisors LLC boosted its position in Intercontinental Exchange by 17.7% during the first quarter. Capital Investment Advisors LLC now owns 1,772 shares of the financial services provider's stock worth $306,000 after acquiring an additional 266 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Intercontinental Exchange by 9.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,167 shares of the financial services provider's stock worth $374,000 after buying an additional 182 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Intercontinental Exchange by 42.0% in the first quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider's stock valued at $2,265,000 after acquiring an additional 3,883 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its stake in Intercontinental Exchange by 8.6% during the 1st quarter. Simplicity Wealth LLC now owns 1,510 shares of the financial services provider's stock worth $260,000 after acquiring an additional 119 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

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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