Judith A. Sprieser, a director at Intercontinental Exchange, Inc. (NYSE:ICE), recently sold 2,255 shares of the company’s common stock. The transaction, which took place on March 7, was executed at a price of $169.35 per share, amounting to a total sale value of $381,884. The sale comes as ICE, a $97 billion market cap company with a "GOOD" InvestingPro Financial Health score, trades near its 52-week high of $175.41.
Following this transaction, Sprieser holds 23,994 shares, which includes 22,225 shares of common stock and 1,769 restricted stock units. The restricted stock units are set to vest on May 17, 2025. The sale was conducted under a Rule 10b5-1 trading plan, which had been approved and became effective on December 6, 2024. The stock has shown strong momentum, delivering a 14.25% return year-to-date. For comprehensive insider trading analysis and additional insights, access the full ICE research report on InvestingPro.
In other recent news, Intercontinental Exchange (ICE) reported stronger-than-anticipated fourth-quarter results for 2024, which led TD Cowen to raise its price target for the company’s shares from $171 to $191, maintaining a Buy rating. Keefe, Bruyette & Woods also increased their price target to $186 from $178, while Raymond (NSE:RYMD) James raised theirs to $195, all citing confidence in ICE’s growth trajectory and performance. The company’s earnings per share (EPS) and revenue figures surpassed expectations, with analysts noting favorable macroeconomic and microeconomic conditions. Additionally, ICE announced a collaboration with CanDeal DNA to enhance its fixed income data services with intraday updates for Canadian securities. This partnership aims to provide clients with more frequent market insights, supporting informed investment decisions. ICE also plans to establish a new electronic equities exchange named NYSE Texas, based in Dallas, pending regulatory approvals. This move reflects Texas’s significant role in the U.S. economy and aims to attract companies drawn to the state’s strong economy and business-friendly environment. These developments highlight ICE’s strategic initiatives and its ability to navigate various market conditions effectively.
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