GDS Wealth Management Lowers Stake in Intercontinental Exchange Inc. $ICE

GDS Wealth Management cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 7.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,491 shares of the financial services provider’s stock after selling 4,912 shares during the period. GDS Wealth Management’s holdings in Intercontinental Exchange were worth $10,192,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ICE. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $28,000. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $29,000. Private Wealth Management Group LLC boosted its stake in Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after buying an additional 66 shares in the last quarter. Hilltop National Bank bought a new position in Intercontinental Exchange during the second quarter valued at approximately $31,000. Finally, Knuff & Co LLC grew its position in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, Director Judith A. Sprieser sold 3,700 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $157.96, for a total value of $584,452.00. Following the completion of the sale, the director directly owned 14,469 shares of the company’s stock, valued at approximately $2,285,523.24. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the sale, the chief executive officer directly owned 1,801,705 shares in the company, valued at $275,805,001.40. The trade was a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 166,068 shares of company stock valued at $25,470,702 over the last three months. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $172.94 on Friday. The firm’s 50-day moving average price is $161.89 and its two-hundred day moving average price is $167.14. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The stock has a market capitalization of $98.61 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 2.10 and a beta of 1.03. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.55 EPS. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Barclays set a $182.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Thursday, January 8th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $193.50.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.