Coldstream Capital Management Inc. Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Coldstream Capital Management Inc. increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,281 shares of the financial services provider’s stock after buying an additional 478 shares during the period. Coldstream Capital Management Inc.’s holdings in Intercontinental Exchange were worth $1,271,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $25,000. Annapolis Financial Services LLC raised its holdings in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after buying an additional 163 shares during the period. New Millennium Group LLC purchased a new position in Intercontinental Exchange in the second quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter worth $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. The disclosure for this sale can be found here. Insiders have sold a total of 67,096 shares of company stock worth $9,593,983 over the last quarter. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

ICE stock opened at $159.93 on Thursday. The stock’s 50 day simple moving average is $153.39 and its 200 day simple moving average is $141.67. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $163.71. The firm has a market cap of $91.73 billion, a P/E ratio of 36.68, a P/E/G ratio of 2.82 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping 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 company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The firm’s revenue was up 22.7% compared to the same quarter last year. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. Barclays increased their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.93.

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.