Bakkt Holdings, Inc. (NYSE:BKKT - Get Free Report) major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the firm's stock in a transaction that occurred on Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, with a total value of $305,265.60. Following the completion of the acquisition, the insider now owns 649,934 shares of the company's stock, valued at $565,442.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large 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 acquired 110,480 shares of Bakkt stock. The shares were purchased at an average price of $21.75 per share, with a total value of $2,402,940.00.
Bakkt Stock Performance
NYSE:BKKT opened at $9.96 on Tuesday. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -11.86 and a beta of 4.12. Bakkt Holdings, Inc. has a 1 year low of $8.27 and a 1 year high of $68.75. The stock has a fifty day moving average price of $13.79 and a two-hundred day moving average price of $28.17.
Bakkt (NYSE:BKKT - Get Free Report) last posted its earnings results on Monday, March 25th. The company reported ($7.25) earnings per share for the quarter, missing the consensus estimate of ($2.75) by ($4.50). The business had revenue of $214.50 million for the quarter, compared to analysts' expectations of $214.00 million. Bakkt had a negative net margin of 9.59% and a negative return on equity of 33.06%. On average, analysts predict that Bakkt Holdings, Inc. will post -0.32 EPS for the current year.
Wall Street Analysts Forecast Growth
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BKKT has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of 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 reaffirmed a "buy" rating and issued a $18.75 price objective on shares of Bakkt in a report on Tuesday, March 26th.
Get Our Latest Analysis on Bakkt
Institutional Investors Weigh In On Bakkt
Several hedge funds have recently modified their holdings of BKKT. PEAK6 Investments LLC acquired a new position in shares of Bakkt in the third quarter valued at approximately $7,185,000. Van ECK Associates Corp lifted its stake in shares of Bakkt by 47.6% during the 4th quarter. Van ECK Associates Corp now owns 2,901,369 shares of the company's stock worth $6,470,000 after purchasing an additional 935,567 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bakkt by 47.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,928,052 shares of the company's stock worth $4,300,000 after purchasing an additional 623,748 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Bakkt by 14.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,601,904 shares of the company's stock valued at $5,802,000 after purchasing an additional 332,936 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Bakkt in the fourth quarter valued at $508,000. 11.11% of the stock is owned by institutional investors and hedge funds.
About Bakkt
(
Get Free Report)
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.
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