The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Intercontinental Exchange Inc shares valued at $15,093,323 were sold by Sprecher Jeffrey C on Apr 03 ’24. At $137.21 per share, Sprecher Jeffrey C sold 110,000 shares. The insider’s holdings dropped to 2,661,705 shares worth approximately $355.28 million following the completion of this transaction.
Also, Sprecher Jeffrey C sold 58,388 shares, netting a total of over 8,011,519 in proceeds. Following the sale of shares at $137.21 each, the insider now holds 1,179,895 shares.
Before that, SPRIESER JUDITH A had sold 2,238 shares from its account. In a trade valued at $307,422, the Director traded Intercontinental Exchange Inc shares for $137.36 each. Upon closing the transaction, the insider’s holdings decreased to 2,238 shares, worth approximately $3.92 million.
As published in a research note from Barclays on January 08, 2024, Intercontinental Exchange Inc [ICE] has been rated up from an Equal weight to an Overweight and the price target has been revised to $148 from $120. As of August 04, 2023, Citigroup has increased its “Neutral” rating to a “Buy” for ICE. Earlier on June 28, 2023, Barclays initiated its rating. Their recommendation was “an Equal weight” for ICE stock.
Analyzing ICE Stock Performance
During the last five days, there has been a drop of approximately -2.36%. Over the course of the year, Intercontinental Exchange Inc shares have jumped approximately 3.93%. Shares of the company reached a 52-week high of $140.43 on 03/07/24 and a 52-week low of $124.36 on 01/04/24. A 50-day SMA is recorded $135.77, while a 200-day SMA reached $120.67. Nevertheless, trading volume fell to 2.26 million shares from 2.15 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 132.43, which, if violated, would cause prices to drop to 131.39. In the upper region, resistance lies at 134.43. The next price resistance is at 135.38. RSI (Relative Strength Index) is 39.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.49, which suggests the price will decrease in the coming days. Percent R is at 82.48%, indicating bearish price movement. Stochastics %K at buying 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 Mar 15, 2024 jumping by 1.01 million shares to 5.9 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.89 million shares. A jump of 17.12% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.46 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.46.
