142,163 Shares in Bullish $BLSH Bought by Jain Global LLC

Key Points

• Jain Global LLC bought a new stake of 142,163 shares in Bullish (NYSE: BLSH) during Q3, valued at approximately $9.04 million and representing about 0.10% of the company.
• Several large institutions also opened sizable Q3 positions — notably ARK Investment Management (~$163.9M), Massachusetts Financial Services (~$92.8M), Sumitomo Mitsui (~$91.8M), Amova (~$91.4M) and Invesco (~$74.7M) — indicating significant institutional interest.
• Despite the inflows, Bullish reported a steep quarterly EPS miss (loss of $3.73 vs. $0.16 expected) with negative net margin and ROE, even as revenue climbed 67.6% year-over-year and the company trades with a market cap near $5.98 billion.

Jain Global LLC bought a new stake in Bullish (NYSE:BLSH - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 142,163 shares of the company's stock, valued at approximately $9,043,000. Jain Global LLC owned approximately 0.10% of Bullish at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BLSH. ARK Investment Management LLC acquired a new stake in shares of Bullish during the third quarter worth $163,904,000. Massachusetts Financial Services Co. MA bought a new stake in Bullish in the 3rd quarter valued at about $92,824,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Bullish during the third quarter worth approximately $91,782,000. Amova Asset Management Americas Inc. acquired a new position in Bullish during the third quarter worth $91,431,000. Finally, Invesco Ltd. acquired a new stake in shares of Bullish in the 3rd quarter worth about $74,658,000.

Bullish Stock Performance

Bullish stock opened at $39.66 on Tuesday. The firm has a market cap of $5.98 billion and a P/E ratio of 396.58. Bullish has a 1-year low of $24.79 and a 1-year high of $118.00. The firm has a 50-day moving average of $34.39 and a 200-day moving average of $44.98. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15.

Bullish (NYSE:BLSH - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported ($3.73) EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($3.89). Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. The business had revenue of $92.50 million for the quarter. During the same period in the previous year, the company posted $1.37 EPS. The firm's quarterly revenue was up 67.6% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BLSH shares. Wall Street Zen raised shares of Bullish from a "sell" rating to a "hold" rating in a report on Monday, February 23rd. Citigroup decreased their target price on Bullish from $77.00 to $67.00 and set a "buy" rating for the company in a research report on Monday, December 22nd. Canaccord Genuity Group lowered their price target on shares of Bullish from $68.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, November 24th. Deutsche Bank Aktiengesellschaft raised Bullish from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $52.00 to $51.00 in a report on Wednesday, November 19th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $50.00 target price on shares of Bullish in a research note on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bullish has a consensus rating of "Hold" and an average target price of $52.08.

Bullish Company Profile

Bullish NYSE: BLSH is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm's stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.

Want to see what other hedge funds are holding BLSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bullish (NYSE:BLSH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.