Intercontinental Exchange Inc. $ICE Shares Acquired by Entropy Technologies LP

Entropy Technologies LP lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 60.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,040 shares of the financial services provider’s stock after buying an additional 4,922 shares during the quarter. Entropy Technologies LP’s holdings in Intercontinental Exchange were worth $2,051,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ICE. ICONIQ Capital LLC grew its stake in Intercontinental Exchange by 2.2% in the 2nd 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 during the period. Mechanics Financial Corp raised its holdings in Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after acquiring an additional 60 shares during the last quarter. Mission Wealth Management LP lifted its stake in shares of Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 62 shares during the period. Aaron Wealth Advisors LLC lifted its stake in shares of Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 63 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $145.93 on Monday. The business has a 50-day moving average of $139.50 and a two-hundred day moving average of $154.00. The firm has a market capitalization of $82.53 billion, a PE ratio of 21.24, a P/E/G ratio of 1.51 and a beta of 0.94. 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 Inc. has a 12 month low of $121.79 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released 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. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the company posted $1.72 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 in the last three months. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Piper Sandler lowered their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Morgan Stanley reduced their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group decreased their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.58.

About Intercontinental Exchange

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.