Insider Selling: Intercontinental Exchange (NYSE:ICE) COO Sells 939 Shares of Stock

Key Points

• Stuart Glen Williams, COO of Intercontinental Exchange, sold 939 shares at an average price of $172.04, decreasing his position by 5.35% and retaining 16,624 shares valued at approximately $2.86 million.
• Intercontinental Exchange reported a net revenue of $3.26 billion for the last quarter, exceeding expectations and with earnings per share of $1.81, up from $1.52 in the same period last year.
• Research analysts have upgraded Intercontinental Exchange's stock with targets ranging from $194.92 to $212.00, reflecting a consensus rating of "Moderate Buy" from ten analysts.

Intercontinental Exchange Inc. (NYSE:ICE - Get Free Report) COO Stuart Glen Williams sold 939 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the transaction, the chief operating officer owned 16,624 shares in the company, valued at $2,859,992.96. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Intercontinental Exchange Trading Up 0.3%

Shares of ICE stock traded up $0.52 during mid-day trading on Monday, reaching $170.29. 4,228,054 shares of the stock traded hands, compared to its average volume of 2,750,103. The company has a market cap of $97.48 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock's fifty day simple moving average is $179.35 and its two-hundred day simple moving average is $175.01. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

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

Institutional Trading of Intercontinental Exchange

Institutional investors have recently modified their holdings of the business. Caldwell Trust Co purchased a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $707,000. Valeo Financial Advisors LLC lifted its holdings in Intercontinental Exchange by 5.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 10,168 shares of the financial services provider's stock worth $1,865,000 after purchasing an additional 554 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Intercontinental Exchange by 1.4% during the 2nd quarter. Osaic Holdings Inc. now owns 108,467 shares of the financial services provider's stock worth $19,801,000 after purchasing an additional 1,486 shares in the last quarter. Lavaca Capital LLC boosted its stake in Intercontinental Exchange by 100.0% in the 2nd quarter. Lavaca Capital LLC now owns 400 shares of the financial services provider's stock worth $73,000 after purchasing an additional 200 shares during the period. Finally, Orion Porfolio Solutions LLC grew its holdings in Intercontinental Exchange by 2.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 46,242 shares of the financial services provider's stock valued at $8,484,000 after buying an additional 1,152 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ICE shares. Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Barclays upped their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $194.92.

About Intercontinental Exchange

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.