Iridian Asset Management LLC CT Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Iridian Asset Management LLC CT cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 46.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,477 shares of the financial services provider’s stock after selling 21,522 shares during the quarter. Iridian Asset Management LLC CT’s holdings in Intercontinental Exchange were worth $3,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. New Millennium Group LLC purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $25,000. Fairscale Capital LLC purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC boosted its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICE. Bank of America increased 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. Piper Sandler increased 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. increased their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.93.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. 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 available through this link. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction 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 completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Trading Down 0.1 %

Shares of ICE stock opened at $166.53 on Thursday. The business’s 50 day moving average is $162.14 and its two-hundred day moving average is $147.98. Intercontinental Exchange, Inc. has a twelve month low of $104.91 and a twelve month high of $167.99. The company has a market capitalization of $95.61 billion, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share 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 company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $1.43 EPS. The company’s revenue was up 22.7% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.12 EPS for the current year.

About Intercontinental Exchange

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.