Third Point LLC Reduces Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Third Point LLC lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 70.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 700,000 shares of the financial services provider’s stock after selling 1,689,934 shares during the quarter. Intercontinental Exchange makes up about 1.4% of Third Point LLC’s holdings, making the stock its 17th largest position. Third Point LLC owned about 0.12% of Intercontinental Exchange worth $89,901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $28,000. Altshuler Shaham Ltd purchased a new position in Intercontinental Exchange during the fourth quarter worth $29,000. Finally, Sachetta LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $29,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Citigroup upped their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Argus reiterated a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Barclays dropped their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, Morgan Stanley lifted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.29.

Intercontinental Exchange Stock Up 1.1 %

Shares of NYSE ICE traded up $1.46 during trading on Wednesday, reaching $136.05. 3,333,269 shares of the stock were exchanged, compared to its average volume of 2,318,405. The company has a market capitalization of $78.04 billion, a price-to-earnings ratio of 30.88, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The business’s 50-day moving average price is $133.69 and its 200 day moving average price is $130.87. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting analysts’ consensus estimates of $1.48. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.96 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of Intercontinental Exchange stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $0.87 per share, with a total value of $305,265.60. Following the acquisition, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders sold a total of 63,234 shares of company stock worth $8,668,823 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.