JPMorgan Chase & Co. Buys Shares of 155,066 Bullish $BLSH

Key Points

• JPMorgan Chase & Co. bought 155,066 shares of Bullish (NYSE: BLSH) in Q3, a new position worth about $9.86 million and representing roughly 0.11% ownership per its SEC filing.
• Several other large institutions initiated sizable stakes — notably ARK Investment (~$163.9M), Massachusetts Financial Services (~$92.8M), Sumitomo Mitsui (~$91.8M), Amova (~$91.4M) and Invesco (~$74.7M) — signaling significant institutional accumulation.
• Analysts hold a consensus “Hold” rating with an average price target of $51.92; Bullish traded around $34.37, carries a high PE (~344), and reported a large EPS miss of ($3.73) vs. $0.16 expected despite 67.6% revenue growth year-over-year.

JPMorgan Chase & Co. purchased a new position in shares of Bullish (NYSE:BLSH - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 155,066 shares of the company's stock, valued at approximately $9,864,000. JPMorgan Chase & Co. owned 0.11% of Bullish as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ARK Investment Management LLC acquired a new position in Bullish in the 3rd quarter valued at about $163,904,000. Massachusetts Financial Services Co. MA purchased a new stake in Bullish in the third quarter valued at $92,824,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Bullish in the 3rd quarter valued at $91,782,000. Amova Asset Management Americas Inc. acquired a new position in shares of Bullish in the 3rd quarter valued at $91,431,000. Finally, Invesco Ltd. purchased a new position in shares of Bullish during the 3rd quarter worth $74,658,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Bullish from a "sell" rating to a "hold" rating in a research note on Monday, February 23rd. Weiss Ratings restated a "sell (d)" rating on shares of Bullish in a research report on Monday, December 29th. Citigroup decreased their target price on Bullish from $67.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, March 18th. Rosenblatt Securities lowered their target price on Bullish from $52.00 to $39.00 and set a "buy" rating for the company in a report on Friday, February 6th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $50.00 price target on shares of Bullish in a research report on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $51.92.

Bullish Stock Performance

Shares of Bullish stock opened at $34.37 on Friday. The business has a 50-day simple moving average of $34.15 and a 200-day simple moving average of $43.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28. Bullish has a one year low of $24.79 and a one year high of $118.00. The company has a market cap of $5.18 billion and a PE ratio of 343.74.

Bullish (NYSE:BLSH - Get Free Report) last issued its quarterly earnings results on Friday, February 6th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($3.89). The firm had revenue of $92.51 million during the quarter. Bullish had a negative return on equity of 10.58% and a negative net margin of 0.95%.The firm's revenue was up 67.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 EPS.

Bullish 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.

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