Axecap Investments LLC Invests $3.27 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Axecap Investments LLC purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,325 shares of the financial services provider’s stock, valued at approximately $3,265,000. Intercontinental Exchange accounts for approximately 2.5% of Axecap Investments LLC’s portfolio, making the stock its 12th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Annapolis Financial Services LLC grew its stake in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the period. New Millennium Group LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Finally, Wolff Wiese Magana LLC boosted 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 worth $25,000 after purchasing an additional 147 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $165.00 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50 day simple moving average is $161.21 and its two-hundred day simple moving average is $146.86. The stock has a market capitalization of $94.64 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $167.23.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The business’s revenue was up 22.7% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange, Inc. will post 6.08 EPS for the current year.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange 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 sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the sale, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ICE. Piper Sandler raised their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Citigroup lifted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday. Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Bank of America lifted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $173.93.

Intercontinental Exchange 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.