Insider Selling: Bakkt Holdings, Inc. (NYSE:BKKT) General Counsel Sells 10,000 Shares of Stock

Bakkt Holdings, Inc. (NYSE:BKKT) General Counsel Marc D’annunzio sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $14.21, for a total value of $142,100.00. Following the completion of the transaction, the general counsel now directly owns 69,807 shares in the company, valued at approximately $991,957.47. This trade represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bakkt Stock Up 3.2%

Shares of Bakkt stock opened at $12.80 on Friday. Bakkt Holdings, Inc. has a 52 week low of $6.81 and a 52 week high of $37.21. The business’s fifty day simple moving average is $9.88 and its 200-day simple moving average is $17.12. The firm has a market cap of $175.49 million, a PE ratio of -1.05 and a beta of 5.41.

Bakkt (NYSE:BKKT) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.81) EPS for the quarter, missing the consensus estimate of ($0.73) by ($2.08). Bakkt had a negative net margin of 2.84% and a negative return on equity of 62.65%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $17.20 million.

Hedge Funds Weigh In On Bakkt

Several large investors have recently modified their holdings of BKKT. Barclays PLC acquired a new position in shares of Bakkt in the 3rd quarter valued at $28,000. JPMorgan Chase & Co. raised its holdings in shares of Bakkt by 2,231.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,725 shares of the company’s stock valued at $43,000 after buying an additional 1,651 shares during the period. AlphaQuest LLC purchased a new stake in shares of Bakkt in the 1st quarter valued at $56,000. SBI Securities Co. Ltd. purchased a new stake in shares of Bakkt in the 4th quarter valued at $87,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Bakkt in the 4th quarter valued at $109,000. Institutional investors and hedge funds own 11.11% of the company’s stock.

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.