Intercontinental Exchange, Inc. (NYSE:ICE) Stock Holdings Cut by Cortland Associates Inc. MO

Cortland Associates Inc. MO reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,591 shares of the financial services provider's stock after selling 2,446 shares during the quarter. Intercontinental Exchange comprises approximately 1.9% of Cortland Associates Inc. MO's portfolio, making the stock its 18th biggest holding. Cortland Associates Inc. MO's holdings in Intercontinental Exchange were worth $16,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider's stock worth $3,799,393,000 after purchasing an additional 281,503 shares during the period. Geode Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider's stock worth $1,848,868,000 after buying an additional 169,922 shares during the period. FMR LLC grew its position in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider's stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Parnassus Investments LLC increased its stake in Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider's stock worth $1,259,213,000 after acquiring an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock worth $865,455,000 after purchasing an additional 390,332 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ICE. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Finally, Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $175.27.

Intercontinental Exchange Stock Up 1.2 %

Shares of ICE stock traded up $1.96 during trading hours on Thursday, hitting $159.18. 1,087,267 shares of the company were exchanged, compared to its average volume of 3,169,575. The stock has a market capitalization of $91.40 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 2.95 and a beta of 1.10. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $167.99. The business's 50-day simple moving average is $153.10 and its two-hundred day simple moving average is $156.33. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts' consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.46 EPS. Intercontinental Exchange's quarterly revenue was up 17.3% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the company's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated 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 directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,795 shares of company stock worth $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.