AdvisorShares Investments LLC Sells 3,910 Shares of Intercontinental Exchange Inc. $ICE

AdvisorShares Investments LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 8.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,360 shares of the financial services provider’s stock after selling 3,910 shares during the quarter. Intercontinental Exchange accounts for about 1.2% of AdvisorShares Investments LLC’s investment portfolio, making the stock its 22nd largest holding. AdvisorShares Investments LLC’s holdings in Intercontinental Exchange were worth $6,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Intercontinental Exchange by 51.3% during the fourth 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 during the last quarter. Empowered Funds LLC boosted its holdings in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased 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 valued at $48,894,000 after purchasing an additional 6,373 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ICE. Barclays reaffirmed an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. UBS Group reiterated a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. TD Cowen decreased their target price on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Finally, The Goldman Sachs Group dropped their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.58.

Intercontinental Exchange Price Performance

ICE stock opened at $132.57 on Friday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35. The company has a market cap of $74.97 billion, a P/E ratio of 19.30, a PEG ratio of 1.24 and a beta of 0.94. The firm has a 50-day moving average of $144.62 and a 200 day moving average of $156.46. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by insiders.

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.