GDS Wealth Management Sells 4,912 Shares of Intercontinental Exchange Inc. $ICE

GDS Wealth Management trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 60,491 shares of the financial services provider’s stock after selling 4,912 shares during the period. GDS Wealth Management’s holdings in Intercontinental Exchange were worth $10,192,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optivise Advisory Services LLC grew its position in shares of Intercontinental Exchange by 3.1% in the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after buying an additional 54 shares during the period. ICONIQ Capital LLC boosted its stake in Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 56 shares in the last quarter. Tritonpoint Wealth LLC grew its holdings in Intercontinental Exchange by 1.4% in the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 58 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 58 shares in the last quarter. Finally, Institute for Wealth Management LLC. lifted its holdings in shares of Intercontinental Exchange by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

Intercontinental Exchange stock opened at $172.94 on Friday. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The stock has a fifty day simple moving average of $161.89 and a two-hundred day simple moving average of $167.14. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $98.61 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 2.10 and a beta of 1.03.

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

Insider Activity

In other news, CFO Warren Gardiner sold 1,572 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $153.65, for a total value of $241,537.80. Following the completion of the sale, the chief financial officer directly owned 20,534 shares in the company, valued at $3,155,049.10. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the transaction, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This trade represents a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 166,068 shares of company stock worth $25,470,702. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ICE. Morgan Stanley set a $180.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. UBS Group reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Barclays set a $182.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and a consensus target price of $193.50.

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.