D.A. Davidson & CO. Boosts Stake in Intercontinental Exchange Inc. $ICE

D.A. Davidson & CO. grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 23.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,038 shares of the financial services provider’s stock after acquiring an additional 6,716 shares during the quarter. D.A. Davidson & CO.’s holdings in Intercontinental Exchange were worth $5,511,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Brooklands Fund Management Ltd acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $28,000. Dorato Capital Management acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $29,000. Swiss RE Ltd. purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Finally, Steph & Co. raised its position in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,425 shares of company stock worth $2,046,324 in the last three months. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 1.6%

NYSE:ICE opened at $139.55 on Friday. The company has a market cap of $78.92 billion, a PE ratio of 20.31, a P/E/G ratio of 1.44 and a beta of 0.94. The business’s 50 day moving average is $140.83 and its two-hundred day moving average is $154.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ICE shares. TD Cowen decreased their target price on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Barclays reduced their price target on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.58.

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.