DRW Securities LLC Sells 2,842 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

DRW Securities LLC trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 53.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,447 shares of the financial services provider’s stock after selling 2,842 shares during the quarter. DRW Securities LLC’s holdings in Intercontinental Exchange were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC raised its holdings in Intercontinental Exchange by 7.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 16,243 shares of the financial services provider’s stock worth $2,232,000 after purchasing an additional 1,180 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Intercontinental Exchange by 61.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 8,082 shares of the financial services provider’s stock worth $1,111,000 after buying an additional 3,062 shares during the period. Tidal Investments LLC raised its stake in Intercontinental Exchange by 13.5% during the first quarter. Tidal Investments LLC now owns 30,820 shares of the financial services provider’s stock worth $4,235,000 after buying an additional 3,655 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in Intercontinental Exchange by 2,134.9% in the first quarter. Plato Investment Management Ltd now owns 15,175 shares of the financial services provider’s stock valued at $2,086,000 after buying an additional 14,496 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new position in Intercontinental Exchange in the first quarter valued at $233,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.5 %

Shares of NYSE ICE opened at $160.49 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $111.82 and a 1 year high of $167.99. The stock has a market capitalization of $92.15 billion, a P/E ratio of 38.03, a P/E/G ratio of 2.63 and a beta of 1.08. The company has a 50-day moving average price of $160.55 and a 200-day moving average price of $151.52.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value 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. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,868 shares of company stock worth $622,079. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ICE. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Company Profile

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.