Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Destination Wealth Management

Destination Wealth Management trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,828 shares of the financial services provider's stock after selling 3,227 shares during the period. Destination Wealth Management's holdings in Intercontinental Exchange were worth $27,763,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter worth approximately $25,000. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. Wolff Wiese Magana LLC raised its stake in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Intercontinental Exchange during the 3rd quarter worth $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ICE shares. The Goldman Sachs Group raised their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. StockNews.com upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Thursday, December 5th. Piper Sandler upped their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Raymond James cut Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 target price for the company. in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $175.07.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now owns 156,163 shares of the company's stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company's stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,901 shares of company stock valued at $1,582,542. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Down 1.0 %

Intercontinental Exchange stock traded down $1.63 during midday trading on Thursday, reaching $156.55. 1,919,733 shares of the stock traded hands, compared to its average volume of 2,602,109. The firm has a market cap of $89.89 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $160.18 and a two-hundred day simple moving average of $153.08. Intercontinental Exchange, Inc. has a 12-month low of $117.49 and a 12-month high of $167.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts' consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business's quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. Research analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.