Intercontinental Exchange (ICE)

• Market cap: $99.3B
• 1 day: 0.01%
• 5 days: 2.19%
• 1 month: 3.81%
• 3 months: 15.53%
• 6 months: 7.21%
• Year to date: 15.74%
• 1 year: 28.60%
• 5 years: 146.63%
• 10 years: 273.39%
• Sector: Financials
• Industry: Security & Commodity Brokers, Dealers, Exchanges & Services

About: Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too. The company's largest commodity futures product is the ICE Brent crude futures contract. In addition to the exchanges business, which is about 54% of net revenue, Intercontinental Exchange has used a series of acquisitions to create its mortgage technology business (22% of net revenue) and fixed-income and data services segment (24% of net revenue).

Employees: 12,920

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

64% more first-time investments, than exits

New positions opened: 182 | Existing positions closed: 111

37% more call options, than puts

Call options by funds: $595M | Put options by funds: $434M

2% more funds holding

Funds holding: 1,573 [Q3] → 1,610 (+37) [Q4]

1.16% more ownership

Funds ownership: 89.15% [Q3] → 90.31% (+1.16%) [Q4]

8% more repeat investments, than reductions

Existing positions increased: 631 | Existing positions reduced: 582

6% less capital invested

Capital invested by funds: $82.2B [Q3] → $77.2B (-$4.99B) [Q4]

19% less funds holding in top 10

Funds holding in top 10: 62 [Q3] → 50 (-12) [Q4]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $186 8% upside
• Avg. target: $192 11% upside
• High target: $200 16% upside

5 analyst ratings

• positive: 5 100%
• neutral: 0 0%
• negative: 0 0%

Barclays Benjamin Budish 63% 1-year accuracy 78 / 124 met price target	9% upside $189	Overweight Maintained	7 Feb 2025
Keefe, Bruyette & Woods Kyle Voigt 71% 1-year accuracy 22 / 31 met price target	8% upside $186	Outperform Maintained	7 Feb 2025
UBS Alex Kramm 63% 1-year accuracy 10 / 16 met price target	13% upside $195	Buy Maintained	7 Feb 2025
JP Morgan Kenneth Worthington 67% 1-year accuracy 22 / 33 met price target	9% upside $189	Overweight Maintained	17 Jan 2025
RBC Capital Ashish Sabadra 60% 1-year accuracy 32 / 53 met price target	16% upside $200	Outperform Reiterated	7 Jan 2025