Alkeon Capital Management LLC Has $289.32 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Alkeon Capital Management LLC trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.0% during the third quarter, HoldingsChannel.com reports. The fund owned 1,801,057 shares of the financial services provider’s stock after selling 897 shares during the period. Intercontinental Exchange makes up approximately 0.5% of Alkeon Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. Alkeon Capital Management LLC’s holdings in Intercontinental Exchange were worth $289,322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after purchasing an additional 122,169 shares in the last quarter. BDF Gestion bought a new position in Intercontinental Exchange during the second quarter worth about $2,849,000. Burke & Herbert Bank & Trust Co. acquired a new position in Intercontinental Exchange in the second quarter valued at about $1,366,000. Blue Trust Inc. increased its holdings in shares of Intercontinental Exchange by 312.4% in the second quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 3,924 shares in the last quarter. Finally, GDS Wealth Management raised its position in shares of Intercontinental Exchange by 5.3% during the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after purchasing an additional 5,226 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value 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 represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,696 shares of company stock valued at $1,554,559 in the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Up 0.4 %

ICE stock opened at $161.19 on Friday. The company has a market cap of $92.55 billion, a price-to-earnings ratio of 38.20, a P/E/G ratio of 2.66 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $111.82 and a twelve month high of $167.99. The business has a 50 day moving average price of $160.59 and a two-hundred day moving average price of $151.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

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.