Bakkt Holdings, Inc. (NYSE:BKKT – Get Free Report) Director Michael Alfred bought 100,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was bought at an average price of $7.83 per share, with a total value of $783,000.00. Following the transaction, the director owned 905,000 shares in the company, valued at approximately $7,086,150. This represents a 12.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Michael Alfred also recently made the following trade(s):
- On Tuesday, June 9th, Michael Alfred purchased 180,000 shares of Bakkt stock. The shares were acquired at an average price of $7.71 per share, for a total transaction of $1,387,800.00.
- On Monday, May 18th, Michael Alfred purchased 220,000 shares of Bakkt stock. The shares were acquired at an average price of $8.20 per share, for a total transaction of $1,804,000.00.
- On Friday, May 15th, Michael Alfred purchased 365,000 shares of Bakkt stock. The shares were acquired at an average price of $8.34 per share, for a total transaction of $3,044,100.00.
Bakkt Stock Performance
Shares of Bakkt stock traded up $0.70 during midday trading on Thursday, reaching $8.38. 1,373,947 shares of the company’s stock traded hands, compared to its average volume of 1,618,409. The company has a market cap of $373.67 million, a price-to-earnings ratio of -6.11 and a beta of 5.83. The company’s 50 day simple moving average is $9.06 and its 200 day simple moving average is $11.07. Bakkt Holdings, Inc. has a 52 week low of $6.87 and a 52 week high of $49.79.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Bakkt from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Bakkt from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Finally, Benchmark cut their price target on shares of Bakkt from $40.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.00.
Read Our Latest Research Report on Bakkt
Institutional Trading of Bakkt
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Essential Partners LLC acquired a new stake in Bakkt in the 1st quarter worth $31,000. Bank of America Corp DE grew its position in Bakkt by 51.8% in the 1st quarter. Bank of America Corp DE now owns 16,758 shares of the company’s stock worth $123,000 after purchasing an additional 5,718 shares during the last quarter. State of Wyoming grew its position in Bakkt by 217.1% in the 1st quarter. State of Wyoming now owns 10,679 shares of the company’s stock worth $79,000 after purchasing an additional 7,311 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Bakkt in the 1st quarter worth $105,000. Finally, Bank of New York Mellon Corp grew its position in Bakkt by 37.4% in the 1st quarter. Bank of New York Mellon Corp now owns 33,637 shares of the company’s stock worth $248,000 after purchasing an additional 9,156 shares during the last quarter. 11.11% of the stock is currently owned by institutional investors and hedge funds.
About Bakkt
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.
Featured Articles
- Five stocks we like better than Bakkt
- Microsoft Just Gave Investors 3 Dates They Can’t Afford to Ignore
- NVIDIA’s Outlook Gains Momentum: Stock Price to Follow
- The World Cup Is Coming—These 3 Stocks Could Cash In
- Spotify’s “North Star” Outlook Was Music to Investors Ears
Receive News & Ratings for Bakkt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bakkt and related companies with MarketBeat.com's FREE daily email newsletter.
