First Foundation Advisors Sells 90 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

First Foundation Advisors cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,598 shares of the financial services provider’s stock after selling 90 shares during the period. First Foundation Advisors’ holdings in Intercontinental Exchange were worth $356,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Annapolis Financial Services LLC raised its position in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares in the last quarter. New Millennium Group LLC acquired a new stake in Intercontinental Exchange in the second quarter valued at $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth about $26,000. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the transaction, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The disclosure for this sale can be found here. Insiders have sold 66,346 shares of company stock worth $9,472,911 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Citigroup raised their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays boosted their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday. Finally, Argus reiterated a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.93.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $161.70 on Tuesday. The stock has a market capitalization of $92.75 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a 50-day simple moving average of $152.59 and a two-hundred day simple moving average of $141.38.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $1.43 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

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.