Insider Buying: Bakkt Holdings, Inc. (NYSE:BKKT) Major Shareholder Acquires $305,265.60 in Stock

Bakkt Holdings, Inc. (NYSE:BKKT) major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the stock in a transaction dated Thursday, April 25th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the purchase, the insider now owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Intercontinental Exchange, Inc also recently made the following trade(s):

• On Monday, March 4th, Intercontinental Exchange, Inc bought 110,480 shares of Bakkt stock. The shares were purchased at an average price of $21.75 per share, for a total transaction of $2,402,940.00.

Bakkt Price Performance

Bakkt stock opened at $6.32 on Thursday. The stock’s fifty day moving average price is $13.15 and its two-hundred day moving average price is $27.87. Bakkt Holdings, Inc. has a one year low of $5.57 and a one year high of $68.75. The firm has a market cap of $81.32 million, a PE ratio of -0.30 and a beta of 4.12.

Bakkt (NYSE:BKKT) last posted its quarterly earnings data on Monday, March 25th. The company reported ($7.25) EPS for the quarter, missing analysts’ consensus estimates of ($2.75) by ($4.50). Bakkt had a negative return on equity of 33.06% and a negative net margin of 9.59%. The company had revenue of $214.50 million for the quarter, compared to the consensus estimate of $214.00 million. Sell-side analysts expect that Bakkt Holdings, Inc. will post -8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bakkt

A number of hedge funds have recently added to or reduced their stakes in BKKT. SG Americas Securities LLC bought a new position in Bakkt during the 3rd quarter worth $31,000. United Capital Management of KS Inc. bought a new position in shares of Bakkt in the 4th quarter valued at $37,000. AJOVista LLC bought a new position in shares of Bakkt in the 4th quarter valued at $65,000. International Assets Investment Management LLC increased its stake in shares of Bakkt by 155.8% in the 4th quarter. International Assets Investment Management LLC now owns 31,332 shares of the company’s stock valued at $70,000 after purchasing an additional 19,082 shares during the last quarter. Finally, Walled Lake Planning & Wealth Management LLC bought a new position in shares of Bakkt in the 4th quarter valued at $84,000. Institutional investors own 11.11% of the company’s stock.

Analyst Ratings Changes

BKKT has been the topic of a number of recent research reports. Citigroup lowered their target price on Bakkt from $12.50 to $7.50 and set a “sell” rating on the stock in a research note on Wednesday, March 27th. Rosenblatt Securities reiterated a “buy” rating and set a $18.75 target price on shares of Bakkt in a research note on Tuesday, March 26th.

Bakkt Company Profile

Bakkt Holdings, Inc offers software as a service and application programming interface solutions for crypto and loyalty, powering engagement, and performance. The company operates Bakkt Marketplace, a platform that enables consumers to buy, sell, and store crypto in an embedded web experience; Bakkt Crypto, a platform that supports clients with a range of crypto solutions; and Bakkt Trust, institutional-grade qualified custody solution for market participants.