Insider Selling: Intercontinental Exchange (NYSE:ICE) CTO Sells 4,271 Shares

Key Points

• Intercontinental Exchange CTO Mayur Kapani sold 4,271 shares for approximately $645,775 at an average price of $151.20, reducing his ownership by 5.91% to 67,988 shares.
• ICE shares recently traded at $154.55, down 0.4%, while the company reported quarterly EPS of $1.90—above estimates—and revenue of $3.61 billion, up 4.8% year over year.
• Institutional investors own 89.3% of ICE, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $183.33.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares of the company's stock, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Intercontinental Exchange Stock Down 0.4%

ICE traded down $0.69 during trading on Friday, reaching $154.55. 1,632,189 shares of the stock traded hands, compared to its average volume of 4,006,082. The stock's 50-day simple moving average is $140.32 and its two-hundred day simple moving average is $152.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $182.86. The stock has a market cap of $86.76 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.81 EPS. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Institutional Trading of Intercontinental Exchange

Several large investors have recently modified their holdings of the company. ICONIQ Capital LLC grew its position in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after purchasing an additional 56 shares during the last quarter. Mission Wealth Management LP grew its holdings in Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock valued at $423,000 after buying an additional 62 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $681,000 after buying an additional 63 shares during the last quarter. Sather Financial Group Inc increased its position in Intercontinental Exchange by 4.7% in the 4th quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider's stock worth $233,000 after buying an additional 64 shares during the period. Finally, Johnson Financial Group LLC increased its position in Intercontinental Exchange by 4.0% in the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider's stock worth $277,000 after buying an additional 65 shares during the period. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. Piper Sandler lowered their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Morgan Stanley cut their target price on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a report on Friday, July 10th. Barclays reaffirmed an "overweight" rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Wall Street Zen lowered Intercontinental Exchange from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $183.33.

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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