Alpha Cubed Investments LLC Sells 6,876 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Alpha Cubed Investments LLC lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 82,402 shares of the financial services provider’s stock after selling 6,876 shares during the period. Alpha Cubed Investments LLC’s holdings in Intercontinental Exchange were worth $13,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cetera Advisor Networks LLC lifted its stake in shares of Intercontinental Exchange by 22.0% in the 4th quarter. Cetera Advisor Networks LLC now owns 34,151 shares of the financial services provider’s stock worth $4,386,000 after purchasing an additional 6,164 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Intercontinental Exchange by 1,197.5% in the 4th quarter. 1832 Asset Management L.P. now owns 1,038 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 958 shares during the period. Waterloo Capital L.P. bought a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $281,000. Sei Investments Co. lifted its stake in shares of Intercontinental Exchange by 2.2% in the 4th quarter. Sei Investments Co. now owns 336,633 shares of the financial services provider’s stock worth $43,234,000 after purchasing an additional 7,269 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its stake in shares of Intercontinental Exchange by 4.5% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 49,961 shares of the financial services provider’s stock worth $6,416,000 after purchasing an additional 2,173 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ICE shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group increased their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays increased their target price on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday. Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Bank of America increased their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,532 shares of company stock valued at $1,507,309. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 2.0 %

Shares of ICE opened at $159.54 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $164.18. The company has a 50 day simple moving average of $158.16 and a two-hundred day simple moving average of $144.48. The firm has a market cap of $91.51 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm posted $1.43 EPS. The company’s revenue was up 22.7% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal 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.