Entropy Technologies LP Grows Position in Intercontinental Exchange Inc. $ICE

Entropy Technologies LP grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 60.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,040 shares of the financial services provider’s stock after purchasing an additional 4,922 shares during the period. Entropy Technologies LP’s holdings in Intercontinental Exchange were worth $2,051,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Intercontinental Exchange by 9.0% during the 1st 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 period. Sivia Capital Partners LLC boosted its stake in shares of 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 in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after acquiring an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after acquiring an additional 6,373 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ICE shares. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Morgan Stanley decreased their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Piper Sandler dropped their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Finally, UBS Group cut their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

Intercontinental Exchange Stock Up 0.1%

ICE stock opened at $145.93 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $139.50 and its 200-day simple moving average is $154.00. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35. The firm has a market capitalization of $82.53 billion, a PE ratio of 21.24, a P/E/G ratio of 1.51 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $1.72 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,425 shares of company stock worth $2,046,324 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange 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.