Gladstone Institutional Advisory LLC Acquires 215 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Gladstone Institutional Advisory LLC grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,568 shares of the financial services provider’s stock after purchasing an additional 215 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Intercontinental Exchange were worth $330,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $28,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Altshuler Shaham Ltd bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at about $26,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $31,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $135.40 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $77.66 billion, a P/E ratio of 31.06, a PEG ratio of 2.55 and a beta of 1.02. The stock’s 50 day moving average is $134.24 and its 200 day moving average is $128.49. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ICE. Citigroup boosted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods lowered their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Piper Sandler boosted their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Bank of America reduced their price target on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, UBS Group boosted their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $148.29.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The disclosure for this purchase can be found here. In the last three months, insiders have sold 61,467 shares of company stock valued at $8,433,168. 1.10% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.