Selling Buzz: Intercontinental Exchange Inc. [ICE] Chief Executive Officer Sprecher Jeffrey C sells 83,621 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Intercontinental Exchange Inc. shares valued at $8,275,739 were sold by Sprecher Jeffrey C on May 26. At $98.97 per share, Sprecher Jeffrey C sold 83,621 shares. The insider’s holdings dropped to 1,277,280 shares worth approximately $137.23 million following the completion of this transaction.

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Also, Sprecher Jeffrey C sold 10,000 shares, netting a total of over 976,304 in proceeds. Following the sale of shares at $97.63 each, the insider now holds 3,011,705 shares.

Before that, Hague William Jefferson had sold 583 shares from its account. In a trade valued at $56,936, the Director traded Intercontinental Exchange Inc. shares for $97.66 each. Upon closing the transaction, the insider’s holdings decreased to 583 shares, worth approximately $1.73 million.

As published in their initiating research note from Credit Suisse on February 15, 2022, Intercontinental Exchange Inc. [ICE] has been an Outperform and the price target has been revised to $160. This represents a 32.85% premium over Thursday’s closing price. Analysts at BofA Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid December. Earlier on June 11, 2021, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for ICE stock.

Analyzing ICE’s Price Performance

On Thursday, Intercontinental Exchange Inc. [NYSE: ICE] rose 4.29% to $107.44. The stock’s lowest price that day was $106.12, but it reached a high of $108.31 in the same session. During the last five days, there has been a surge of approximately 4.76%. Over the course of the year, Intercontinental Exchange Inc. shares have dropped approximately -21.44%. Shares of the company reached a 52-week high of $137.40 on 03/18/22 and a 52-week low of $90.05 on 06/17/22. A 50-day SMA is recorded $97.95, while a 200-day SMA reached $119.84. Nevertheless, trading volume fell to 3.78 million shares from 2.56 million shares the previous day.

Support And Resistance Levels for Intercontinental Exchange Inc. (ICE)

According to the 24-hour chart, there is a support level at 106.27, which, if violated, would cause prices to drop to 105.10. In the upper region, resistance lies at 108.46. The next price resistance is at 109.48. RSI (Relative Strength Index) is 69.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.79, which suggests the price will increase in the coming days. Percent R is at 6.37%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Intercontinental Exchange Inc. subject to short interest?

Stocks of Intercontinental Exchange Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.63 million shares to 7.58 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.95 million shares. A jump of 34.7% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.44.

Which companies own the most shares of Intercontinental Exchange Inc. (ICE)?

According to The Vanguard Group, Inc. filings, the company currently owns 42,394,120 shares, which is about 7.59% of the total ICE shares outstanding. The investor’s shares have appreciated by 1,159,993 from its previous 13-F filing of 41234127.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $2,413,952,915. BlackRock Fund Advisors reduced a -1.47% interest valued at $2.4 billion while Capital Research & Management Co sold a -418,925 stake. A total of 728,789 shares of Intercontinental Exchange Inc. were sold by Morgan Stanley Investment Managem during the quarter, and -136,889 were sold by Lazard Asset Management LLC. In its current portfolio, Capital Research & Management Co holds 12,631,604 shares valued at $1.19 billion.

In terms of Intercontinental Exchange Inc. share price expectations, FactSet research, analysts set an average price target of $122.20 in the next 12 months, up nearly 18.42% from the previous closing price of $103.02. Analysts anticipate Intercontinental Exchange Inc. stock to reach $155.00 by 2022, with the lowest price target being $95.00. In spite of this, 15 analysts ranked Intercontinental Exchange Inc. stock as an Overweight at the end of 2022. On November 19, 2020, Raymond James assigned a price target of “a Strong buy” to the stock and upgraded coverage with a $125.


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