Bakkt Holdings, Inc. (NYSE:BKKT - Get Free Report) Director Michael Alfred bought 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average price of $7.83 per share, with a total value of $783,000.00. Following the acquisition, the director owned 905,000 shares of the company's stock, valued at $7,086,150. This represents a 12.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Michael Alfred also recently made the following trade(s):
- On Tuesday, June 9th, Michael Alfred acquired 180,000 shares of Bakkt stock. The stock was purchased at an average price of $7.71 per share, with a total value of $1,387,800.00.
- On Monday, May 18th, Michael Alfred acquired 220,000 shares of Bakkt stock. The stock was purchased at an average price of $8.20 per share, with a total value of $1,804,000.00.
- On Friday, May 15th, Michael Alfred acquired 365,000 shares of Bakkt stock. The stock was purchased at an average price of $8.34 per share, with a total value of $3,044,100.00.
Bakkt Trading Up 9.1%
BKKT opened at $8.38 on Friday. The stock has a fifty day simple moving average of $9.08 and a two-hundred day simple moving average of $11.03. The company has a market cap of $373.65 million, a price-to-earnings ratio of -6.11 and a beta of 5.83. Bakkt Holdings, Inc. has a 12-month low of $6.87 and a 12-month high of $49.79.
Bakkt (NYSE:BKKT - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.31). The firm had revenue of $243.59 million during the quarter, compared to the consensus estimate of $297.94 million. Bakkt had a negative return on equity of 64.73% and a negative net margin of 8.37%.
Hedge Funds Weigh In On Bakkt
Several institutional investors and hedge funds have recently modified their holdings of BKKT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bakkt by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,734 shares of the company's stock valued at $821,000 after acquiring an additional 10,018 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bakkt by 33.1% during the second quarter. Geode Capital Management LLC now owns 247,177 shares of the company's stock valued at $3,448,000 after acquiring an additional 61,408 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Bakkt during the second quarter valued at $153,000. JPMorgan Chase & Co. increased its holdings in shares of Bakkt by 3,275.7% during the second quarter. JPMorgan Chase & Co. now owns 2,498 shares of the company's stock valued at $35,000 after acquiring an additional 2,424 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Bakkt during the second quarter valued at $106,000. 11.11% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
BKKT has been the subject of a number of research reports. Weiss Ratings downgraded Bakkt from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Bakkt from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Finally, Benchmark reduced their price target on Bakkt from $40.00 to $22.00 and set a "buy" rating for the company in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Bakkt has an average rating of "Hold" and a consensus target price of $22.00.
Check Out Our Latest Report on BKKT
About Bakkt
(
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Bakkt Holdings, Inc is a digital asset platform that aims to bridge traditional finance and digital assets by offering institutional-grade custody, trading and settlement services. Established in 2018 by Intercontinental Exchange (ICE), the company initially made headlines with the launch of its physically settled Bitcoin futures contracts in 2019. Since then, Bakkt has expanded its product lineup to include spot trading of cryptocurrencies, a secure digital wallet for retail customers and a payment gateway that enables merchants to accept digital assets alongside fiat currencies.
The company's core offering centers on its custody infrastructure, which is built to meet robust regulatory and security standards.
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