Bakkt Holdings, Inc. (NYSE:BKKT – Get Rating) CEO Gavin Constantine Michael sold 340,002 shares of the company's stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $1.59, for a total value of $540,603.18. Following the completion of the sale, the chief executive officer now owns 2,446,547 shares in the company, valued at approximately $3,890,009.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Bakkt Stock Performance
BKKT stock traded down $0.08 during mid-day trading on Friday, reaching $1.70. 2,968,455 shares of the company's stock were exchanged, compared to its average volume of 5,066,355. The stock's 50 day moving average is $1.61 and its 200 day moving average is $2.15. Bakkt Holdings, Inc. has a 12-month low of $1.13 and a 12-month high of $9.01.
Get Bakkt alerts:Bakkt (NYSE:BKKT – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported $14.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $14.28. The company had revenue of $12.90 million for the quarter, compared to the consensus estimate of $14.60 million. Bakkt had a positive return on equity of 45.35% and a negative net margin of 1,087.57%. Analysts expect that Bakkt Holdings, Inc. will post 13.58 EPS for the current fiscal year.
Hedge Funds Weigh In On Bakkt
A number of hedge funds have recently bought and sold shares of BKKT. Captrust Financial Advisors raised its holdings in shares of Bakkt by 320.5% during the first quarter. Captrust Financial Advisors now owns 6,560 shares of the company's stock valued at $40,000 after acquiring an additional 5,000 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Bakkt during the first quarter valued at approximately $66,000. Spearhead Capital Advisors LLC acquired a new position in shares of Bakkt during the third quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Bakkt during the third quarter valued at approximately $27,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Bakkt during the first quarter valued at approximately $76,000. Hedge funds and other institutional investors own 8.39% of the company's stock.Analyst Ratings Changes
A number of analysts have recently commented on BKKT shares. 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 on the stock. Wells Fargo & Company lowered their target price on Bakkt from $2.50 to $2.00 and set an "equal weight" rating on the stock in a research note on Monday, January 9th.
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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