Bakkt Holdings, Inc. (NYSE:BKKT) Major Shareholder Intercontinental Exchange, Inc Acquires 350,880 Shares

Bakkt Holdings, Inc. (NYSE:BKKT) major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the transaction, the insider now owns 649,934 shares in the company, valued at approximately $565,442.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 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 bought 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. Bakkt Holdings, Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $68.75. The firm has a market capitalization of $3.20 billion, a P/E ratio of -11.86 and a beta of 4.12. The stock has a 50-day simple moving average of $13.79 and a two-hundred day simple moving average of $28.17.

Bakkt (NYSE:BKKT) last announced its quarterly earnings results on Monday, March 25th. The company reported ($7.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.75) by ($4.50). The company had revenue of $214.50 million during the quarter, compared to analyst estimates of $214.00 million. Bakkt had a negative net margin of 9.59% and a negative return on equity of 33.06%. As a group, analysts forecast that Bakkt Holdings, Inc. will post -0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on BKKT shares. Citigroup lowered their price target on Bakkt from $12.50 to $7.50 and set a “sell” rating for the company in a research report 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.

Institutional Trading of Bakkt

A number of hedge funds have recently added to or reduced their stakes in the company. United Capital Management of KS Inc. purchased a new position in Bakkt during the fourth quarter worth approximately $37,000. International Assets Investment Management LLC boosted its stake in Bakkt by 155.8% during the 4th quarter. International Assets Investment Management LLC now owns 31,332 shares of the company’s stock worth $70,000 after purchasing an additional 19,082 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Bakkt during the third quarter worth $31,000. AJOVista LLC acquired a new stake in shares of Bakkt in the fourth quarter valued at about $65,000. Finally, Walled Lake Planning & Wealth Management LLC purchased a new position in shares of Bakkt in the fourth quarter worth about $84,000. 11.11% of the stock is owned by hedge funds and other institutional investors.

About Bakkt

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.