Andra AP fonden Sells 28,400 Shares of Intercontinental Exchange Inc. $ICE

Andra AP fonden decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 44.2% in the first quarter, Holdings Channel reports. The firm owned 35,900 shares of the financial services provider’s stock after selling 28,400 shares during the quarter. Andra AP fonden’s holdings in Intercontinental Exchange were worth $5,646,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at $25,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $29,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Steph & Co. grew its holdings in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

ICE opened at $142.51 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $80.59 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. The company’s 50 day simple moving average is $139.92 and its 200-day simple moving average is $154.26. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35.

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, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the company posted $1.72 EPS. Intercontinental Exchange’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the business’s 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 sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. TD Cowen decreased their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Barclays dropped their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Finally, Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $181.58.

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.