Avanza Fonder AB Acquires 3,793 Shares of Intercontinental Exchange Inc. $ICE

Avanza Fonder AB raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,279 shares of the financial services provider’s stock after buying an additional 3,793 shares during the period. Avanza Fonder AB’s holdings in Intercontinental Exchange were worth $7,123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC lifted its position in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. CW Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the first quarter worth approximately $286,000. Freedom Investment Management Inc. bought a new position in shares of Intercontinental Exchange in the first quarter valued at approximately $212,000. Ieq Capital LLC lifted its holdings in shares of Intercontinental Exchange by 50.1% in the first quarter. Ieq Capital LLC now owns 31,036 shares of the financial services provider’s stock valued at $5,354,000 after purchasing an additional 10,358 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Intercontinental Exchange during the first quarter valued at approximately $64,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ICE shares. Morgan Stanley reissued a “positive” rating and issued a $174.00 price target (up from $169.00) on shares of Intercontinental Exchange in a research report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Tuesday. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st. JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, TD Cowen reduced their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $194.30.

Intercontinental Exchange Stock Up 0.4%

ICE stock opened at $162.63 on Friday. The stock has a fifty day moving average of $155.52 and a 200-day moving average of $169.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a market capitalization of $92.73 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 EPS. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $157.96, for a total transaction of $584,452.00. Following the sale, the director directly owned 14,469 shares in the company, valued at approximately $2,285,523.24. This represents a 20.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.20, for a total transaction of $261,120.00. Following the completion of the transaction, the senior vice president directly owned 24,196 shares of the company’s stock, valued at approximately $3,948,787.20. This trade represents a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 176,150 shares of company stock valued at $27,072,531. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.