Intercontinental Exchange Slides as Softer June Volume Trends Trigger Estimate Cuts

Intercontinental Exchange (ICE) is down 4.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely catalyst was a fresh round of analyst estimate and price-target reductions after June metrics pointed to weaker-than-expected second-quarter trading activity, particularly in financial and energy futures, along with softer expectations for parts of the fixed income and data business. This could be because investors are growing more cautious heading into the company’s late-July earnings report, even though several of ICE’s longer-term operating indicators remain solid.

Details:

One analyst note published this week cut its target after citing quieter trading volumes ahead of second-quarter results and said the near-term pressure followed a global energy-market shock.

Another analyst update tied lower forecasts to June metrics, noting second-quarter volume came in below its expectations, with weaker financial and energy futures activity and softer assumptions for fixed income execution and CDS clearing revenue.

ICE’s first-quarter 2026 earnings release showed record overall results, with fixed income and data services revenue of $657 million, mortgage technology revenue of $539 million, and the second-quarter earnings call scheduled for July 30, 2026.

At the same time, ICE’s own market data showed June 2026 total open interest rising 20% year over year, suggesting the selloff was more about near-term expectations than a clear collapse in underlying franchise activity.

Sources:

ICE Investor Relations, ICE, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ICE Insider Trading Activity

$ICE insiders have traded $ICE stock on the open market 17 times in the past 6 months. Of those trades, 0 have been purchases and 17 have been sales.

Here’s a breakdown of recent trading of $ICE stock by insiders over the last 6 months:

JEFFREY C SPRECHER (Chief Executive Officer) has made 0 purchases and 2 sales selling 279,937 shares for an estimated $43,389,339.
MAYUR KAPANI (Chief Technology Officer) has made 0 purchases and 2 sales selling 15,213 shares for an estimated $2,358,346.
BENJAMIN JACKSON (President) sold 12,861 shares for an estimated $2,122,077
JUDITH A SPRIESER has made 0 purchases and 7 sales selling 4,722 shares for an estimated $798,898.
ANDREW J SURDYKOWSKI (General Counsel) has made 0 purchases and 2 sales selling 4,571 shares for an estimated $740,524.
WARREN GARDINER (Chief Financial Officer) sold 2,490 shares for an estimated $390,033
WILLIAM JEFFERSON HAGUE has made 0 purchases and 2 sales selling 1,424 shares for an estimated $198,503.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$ICE Hedge Fund Activity

We have seen 740 institutional investors add shares of $ICE stock to their portfolio, and 707 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

J. STERN & CO. LLP removed 53,767,252 shares (-99.4%) from their portfolio in Q1 2026, for an estimated $8,472,374,733
WELLINGTON MANAGEMENT GROUP LLP added 2,050,500 shares (+25.2%) to their portfolio in Q1 2026, for an estimated $323,107,537
PRICE T ROWE ASSOCIATES INC /MD/ added 2,019,524 shares (+23.1%) to their portfolio in Q1 2026, for an estimated $318,226,494
CAPITAL WORLD INVESTORS removed 1,872,916 shares (-23.7%) from their portfolio in Q1 2026, for an estimated $295,124,738
AMUNDI added 1,656,220 shares (+49.6%) to their portfolio in Q1 2026, for an estimated $260,978,866
JONES FINANCIAL COMPANIES LLLP added 1,624,900 shares (+8101.8%) to their portfolio in Q1 2026, for an estimated $256,043,617
CITADEL ADVISORS LLC added 1,510,230 shares (+747.4%) to their portfolio in Q1 2026, for an estimated $237,974,492

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ICE Congressional Stock Trading

Members of Congress have traded $ICE stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $ICE stock by members of Congress over the last 6 months:

REPRESENTATIVE JOSH GOTTHEIMER purchased up to $15,000 on 01/26.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$ICE Analyst Ratings

Wall Street analysts have issued reports on $ICE in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Piper Sandler issued a "Overweight" rating on 01/14/2026

To track analyst ratings and price targets for $ICE, check out Quiver Quantitative's $ICE forecast page.

$ICE Price Targets

Multiple analysts have issued price targets for $ICE recently. We have seen 7 analysts offer price targets for $ICE in the last 6 months, with a median target of $187.0.

Here are some recent targets:

Benjamin Budish from Barclays set a target price of $180.0 on 07/09/2026
Alex Kramm from UBS set a target price of $190.0 on 07/07/2026
Alexander Blostein from Goldman Sachs set a target price of $180.0 on 06/30/2026
Bill Katz from TD Cowen set a target price of $153.0 on 06/22/2026
Patrick Moley from Piper Sandler set a target price of $211.0 on 04/15/2026
Michael Cyprys from Morgan Stanley set a target price of $187.0 on 04/10/2026
Chris Allen from Keefe, Bruyette & Woods set a target price of $190.0 on 04/08/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.