Sapient Capital LLC Lowers Stock Position in Intercontinental Exchange Inc. $ICE

Sapient Capital LLC cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 93.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,718 shares of the financial services provider’s stock after selling 81,428 shares during the quarter. Sapient Capital LLC’s holdings in Intercontinental Exchange were worth $961,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange during the second quarter worth about $28,000. Activest Wealth Management lifted its holdings in shares of Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $29,000. Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $31,000. Finally, Knuff & Co LLC increased its position in Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the completion of the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,221,150.80. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This represents a 7.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 176,150 shares of company stock worth $27,072,531. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $163.53 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $93.24 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.04. The business has a 50-day simple moving average of $155.72 and a two-hundred day simple moving average of $168.92. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

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

Analyst Ratings Changes

Several research firms have commented on ICE. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Tuesday, December 23rd. JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a report on Monday, October 13th. Finally, Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $194.30.

Intercontinental Exchange Company 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.