Bakkt (NYSE:BKKT – Get Rating) had its target price dropped by equities researchers at Wells Fargo & Company from $2.50 to $2.00 in a report released on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 41.84% from the stock's current price.

Separately, Rosenblatt Securities started coverage on Bakkt in a research note on Tuesday, November 29th. They issued a "buy" rating and a $2.20 target price for the company.

Bakkt Stock Up 6.0 %

NYSE:BKKT traded up $0.08 on Monday, reaching $1.41. The company's stock had a trading volume of 31,840 shares, compared to its average volume of 991,976. Bakkt has a 1-year low of $1.13 and a 1-year high of $9.01. The business's 50-day moving average price is $1.65 and its two-hundred day moving average price is $2.23.

Insider Transactions at Bakkt

In other news, Director Impact Acquisition Holding Vpc sold 69,640 shares of the company's stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $1.78, for a total transaction of $123,959.20. Following the completion of the transaction, the director now directly owns 8,073,050 shares of the company's stock, valued at $14,370,029. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BKKT. State Street Corp boosted its position in Bakkt by 842.3% during the second quarter. State Street Corp now owns 1,058,253 shares of the company's stock valued at $2,222,000 after purchasing an additional 945,944 shares during the last quarter. Vanguard Group Inc. boosted its position in Bakkt by 67.3% during the first quarter. Vanguard Group Inc. now owns 2,158,040 shares of the company's stock valued at $13,294,000 after purchasing an additional 868,031 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Bakkt during the second quarter valued at approximately $1,169,000. Renaissance Technologies LLC acquired a new position in Bakkt during the second quarter valued at approximately $895,000. Finally, Northern Trust Corp boosted its position in Bakkt by 743.5% during the second quarter. Northern Trust Corp now owns 464,717 shares of the company's stock valued at $976,000 after purchasing an additional 409,621 shares during the last quarter. 8.39% of the stock is owned by institutional investors and hedge funds.

About Bakkt

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Bakkt Holdings, Inc operates a digital asset platform. The company's platform enables consumers to buy, sell, convert, and spend digital assets. Its customers include merchants, retailers, and financial institutions. Bakkt Holdings, Inc has a strategic alliance with the Global Payments to collaborate on use cases starting with enabling cryptocurrency redemption in customer loyalty programs offered by bankcard clients, as well as expanding its banking-as-a-service offerings to include consumer access to cryptocurrency.

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