Norges Bank Invests $17.04 Million in Bullish $BLSH

Key Points

• Norges Bank disclosed a new fourth-quarter position in Bullish, buying 450,000 shares valued at about $17.0 million, or roughly 0.31% of the company.
• Several other institutional investors also added Bullish stakes, including ARK Investment Management, which reported a much larger new position worth about $163.9 million.
• Bullish is facing mixed signals: CEO Thomas W. Farley sold half of his holdings, analysts are split with a consensus "Hold" rating, and the stock has been pressured by weaker crypto sentiment and valuation concerns.

Norges Bank acquired a new position in shares of Bullish (NYSE:BLSH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 450,000 shares of the company's stock, valued at approximately $17,042,000. Norges Bank owned about 0.31% of Bullish as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new position in Bullish in the third quarter valued at $7,099,000. Tudor Investment Corp ET AL acquired a new position in Bullish in the third quarter valued at $10,124,000. Monashee Investment Management LLC acquired a new position in Bullish in the third quarter valued at $3,180,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Bullish in the third quarter valued at $2,723,000. Finally, ARK Investment Management LLC acquired a new position in Bullish in the third quarter valued at $163,904,000.

Insider Activity

In other news, CEO Thomas W. Farley sold 80,000 shares of Bullish stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the sale, the chief executive officer directly owned 80,000 shares of the company's stock, valued at approximately $3,516,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen cut Bullish from a "hold" rating to a "sell" rating in a report on Saturday. Citigroup reduced their target price on Bullish from $67.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, March 18th. Weiss Ratings reiterated a "sell (d)" rating on shares of Bullish in a report on Friday, March 27th. Cantor Fitzgerald lifted their target price on Bullish from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $61.00 price objective on shares of Bullish in a research report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $51.92.

Bullish Trading Down 0.9%

NYSE:BLSH opened at $26.97 on Wednesday. The business's 50-day moving average is $37.36 and its two-hundred day moving average is $37.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. Bullish has a 12 month low of $24.79 and a 12 month high of $118.00. The firm has a market capitalization of $4.07 billion and a PE ratio of -4.12.

Bullish (NYSE:BLSH - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. The company had revenue of $92.83 million during the quarter. The business's revenue for the quarter was up 48.8% compared to the same quarter last year. Research analysts predict that Bullish will post 0.72 earnings per share for the current fiscal year.

Key Headlines Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Negative Sentiment: One article warned that “crypto winter” may be setting in, citing Bitcoin falling below $60,000, record ETF outflows, and institutional selling. Because Bullish is a crypto trading and market infrastructure platform, it is viewed as highly exposed to a downturn in digital-asset activity. Article Title
• Negative Sentiment: Bullish also released May 2026 monthly metrics, but the market appears to be focusing less on the company’s operating update and more on the broader decline in crypto sentiment and trading volumes, which can pressure revenue expectations. Article Title
• Neutral Sentiment: Another piece looked at Bullish’s valuation after its recent pullback, framing the stock as still expensive on a price-to-sales basis despite the selloff. That keeps valuation concerns in focus for investors. Article Title

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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