Alpha Cubed Investments LLC Increases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Alpha Cubed Investments LLC boosted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,573 shares of the financial services provider's stock after buying an additional 3,171 shares during the quarter. Alpha Cubed Investments LLC's holdings in Intercontinental Exchange were worth $12,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ICE. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC lifted its stake in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $26,000. Financial Management Professionals Inc. grew its stake in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider's stock valued at $27,000 after buying an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Intercontinental Exchange in the third quarter worth approximately $29,000. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Raymond James cut shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price target on the stock. in a report on Monday, October 14th. Barclays decreased their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an "outperform" rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $175.27.

Intercontinental Exchange Stock Up 1.4 %

Shares of ICE traded up $2.09 during trading hours on Tuesday, hitting $151.20. The company had a trading volume of 1,377,319 shares, compared to its average volume of 3,074,863. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $167.99. The company's fifty day moving average price is $153.04 and its two-hundred day moving average price is $155.79. The company has a market capitalization of $86.82 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 2.84 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company's quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the sale, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock valued at $2,120,572 over the last 90 days. Insiders own 1.10% of the company's stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.