Bakkt Holdings, Inc. (NYSE:BKKT – Get Free Report) major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of Bakkt stock in a transaction on Thursday, April 25th. The stock was bought at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 cost of $21.75 per share, for a total transaction of $2,402,940.00.
Bakkt Price Performance
Shares of NYSE:BKKT traded down $0.03 during midday trading on Monday, hitting $9.96. 242,451 shares of the company’s stock were exchanged, compared to its average volume of 224,771. Bakkt Holdings, Inc. has a 12 month low of $8.27 and a 12 month high of $68.75. The company has a market cap of $3.20 billion, a PE ratio of -11.86 and a beta of 4.12. The stock has a 50 day moving average price of $13.79 and a 200-day moving average price of $28.17.
Institutional Trading of Bakkt
Institutional investors have recently made changes to their positions in the company. PEAK6 Investments LLC purchased a new position in Bakkt in the third quarter valued at about $7,185,000. Van ECK Associates Corp increased its stake in shares of Bakkt by 47.6% in the fourth 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bakkt by 47.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,928,052 shares of the company’s stock valued at $4,300,000 after purchasing an additional 623,748 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Bakkt by 14.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,601,904 shares of the company’s stock valued at $5,802,000 after buying an additional 332,936 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Bakkt in the 4th quarter worth approximately $508,000. Institutional investors own 11.11% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $18.75 price target on shares of Bakkt in a research note on Tuesday, March 26th. Citigroup cut their target price on Bakkt from $12.50 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, March 27th.
View Our Latest Research Report on BKKT
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.
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