Bank of America Corp DE Sells 1,888,560 Shares of Webull Corporation $BULL

Key Points

• Bank of America reduced its Webull stake by 77.7% in the first quarter, selling 1,888,560 shares and retaining 543,224 shares worth approximately $2.6 million.
• Institutional investors own 92.48% of Webull, while insiders own 35%; two executives recently sold shares through disclosed transactions, including sales by the general counsel and president.
• Webull reported quarterly revenue of $198.83 million, up 51.2% year over year, and earnings of $0.12 per share versus the $0.01 consensus estimate. Analysts maintain a “Moderate Buy” rating with an average price target of $14.00.

Bank of America Corp DE cut its stake in shares of Webull Corporation (NASDAQ:BULL - Free Report) by 77.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 543,224 shares of the company's stock after selling 1,888,560 shares during the period. Bank of America Corp DE owned 0.10% of Webull worth $2,607,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC acquired a new stake in Webull in the second quarter valued at $3,810,000. Quantbot Technologies LP acquired a new position in shares of Webull during the 2nd quarter worth about $71,000. Sandia Investment Management LP bought a new stake in shares of Webull in the 2nd quarter valued at about $771,000. Cable Car Capital LP bought a new stake in shares of Webull in the 2nd quarter valued at about $1,046,000. Finally, AQR Arbitrage LLC acquired a new stake in Webull in the 2nd quarter valued at about $1,747,000. 92.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Benjamin Worthy James sold 50,273 shares of Webull stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $9.02, for a total value of $453,462.46. Following the transaction, the general counsel directly owned 1,150,991 shares of the company's stock, valued at $10,381,938.82. The trade was a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anthony Michael Denier sold 53,848 shares of Webull stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $8.83, for a total transaction of $475,477.84. Following the transaction, the president directly owned 2,332,295 shares of the company's stock, valued at $20,594,164.85. This represents a 2.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 35.00% of the stock is currently owned by corporate insiders.

Webull Stock Performance

Shares of NASDAQ BULL opened at $9.48 on Tuesday. Webull Corporation has a 52 week low of $4.50 and a 52 week high of $16.04. The stock has a market capitalization of $5.04 billion, a P/E ratio of 118.51 and a beta of 0.53. The stock's fifty day moving average is $7.65 and its 200 day moving average is $6.64.

Webull (NASDAQ:BULL - Get Free Report) last released its earnings results on Wednesday, August 19th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.01 by $0.11. Webull had a net margin of 6.26% and a return on equity of 5.95%. The firm had revenue of $198.83 million for the quarter. Webull's quarterly revenue was up 51.2% on a year-over-year basis. Equities research analysts forecast that Webull Corporation will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on BULL. Wall Street Zen raised shares of Webull from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Rosenblatt Securities restated a "buy" rating and set a $15.00 price objective on shares of Webull in a report on Friday. Finally, Weiss Ratings raised Webull from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Webull has an average rating of "Moderate Buy" and an average price target of $14.00.

About Webull

Webull Financial LLC is a commission-free online brokerage platform that provides individual investors with access to U.S. equities, exchange-traded funds (ETFs), options, and cryptocurrencies. Through its mobile and desktop applications, the company offers real-time market data, advanced charting tools, customizable watchlists, and streamlined order execution. Webull’s platform is designed to support both self-directed traders and investors seeking an intuitive interface coupled with professional-grade analytics.

In addition to its core trading services, Webull delivers educational resources and research tools to help users make informed decisions.

Want to see what other hedge funds are holding BULL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Webull Corporation (NASDAQ:BULL - 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source