Longboard Asset Management LP Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Longboard Asset Management LP bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,561 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Wolff Wiese Magana LLC raised its position in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $26,000. Financial Management Professionals Inc. raised its stake in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange in the third quarter worth $29,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at $31,000. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $160.40 on Tuesday. The firm has a market cap of $92.10 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 3.06 and a beta of 1.11. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average price of $153.12 and a 200 day moving average price of $156.54.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler upped their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Barclays dropped their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.27.

Intercontinental Exchange 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.