Intercontinental Exchange (NYSE:ICE) CTO Sells $2,358,319.26 in Stock

Intercontinental Exchange Inc. (NYSE:ICE) CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. This trade represents a 19.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mayur Kapani also recently made the following trade(s):

• On Monday, December 8th, Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15.

Intercontinental Exchange Stock Down 0.1%

NYSE ICE opened at $154.00 on Friday. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a market capitalization of $87.45 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.60 and a beta of 1.02. The stock’s 50 day moving average is $164.58 and its two-hundred day moving average is $164.38. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the company earned $1.52 EPS. Intercontinental Exchange’s revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.4%. Intercontinental Exchange’s payout ratio is 33.28%.

Intercontinental Exchange News Roundup

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. Brighton Jones LLC grew its position in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the period. Empowered Funds LLC boosted its stake in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 289 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Intercontinental Exchange by 11.3% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,951 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 300 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $28,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. UBS Group reissued a “buy” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Monday, February 9th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and a consensus target price of $195.40.

Intercontinental Exchange Company Profile

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.