Intercontinental Exchange Inc. $ICE Shares Acquired by AXQ Capital LP

AXQ Capital LP boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 206.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,285 shares of the financial services provider’s stock after purchasing an additional 4,237 shares during the period. AXQ Capital LP’s holdings in Intercontinental Exchange were worth $1,018,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Brighton Jones LLC boosted its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC lifted its holdings in Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Weiss Ratings cut Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Morgan Stanley increased their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Barclays reaffirmed an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $194.60.

Intercontinental Exchange Stock Down 1.7%

Shares of ICE stock opened at $142.53 on Wednesday. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35. The stock has a market cap of $80.60 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.92. The business’s fifty day moving average is $157.12 and its 200-day moving average is $160.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the firm earned $1.72 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% 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 12,001 shares of company stock valued at $1,847,820. Insiders own 0.84% of the company’s stock.

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.