Insider Selling: Bakkt Holdings, Inc. (NYSE:BKKT) CFO Sells 671 Shares of Stock

Bakkt Holdings, Inc. (NYSE:BKKT - Get Free Report) CFO Karen Alexander sold 671 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $18.21, for a total transaction of $12,218.91. Following the completion of the transaction, the chief financial officer owned 69,768 shares of the company's stock, valued at $1,270,475.28. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bakkt Stock Down 6.3%

Shares of BKKT traded down $1.53 during mid-day trading on Friday, hitting $22.58. 1,164,347 shares of the company traded hands, compared to its average volume of 505,648. Bakkt Holdings, Inc. has a 1-year low of $6.81 and a 1-year high of $37.21. The business has a 50 day moving average of $14.44 and a 200 day moving average of $14.60. The company has a market capitalization of $314.09 million, a PE ratio of -4.57 and a beta of 5.35.

Bakkt (NYSE:BKKT - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($2.08). Bakkt had a negative return on equity of 88.55% and a negative net margin of 0.83%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $17.20 million.

Hedge Funds Weigh In On Bakkt

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Bakkt by 2,231.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,725 shares of the company's stock worth $43,000 after purchasing an additional 1,651 shares in the last quarter. Barclays PLC boosted its position in Bakkt by 73.4% in the 4th quarter. Barclays PLC now owns 5,091 shares of the company's stock worth $126,000 after purchasing an additional 2,155 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in Bakkt in the 1st quarter worth approximately $26,000. AlphaQuest LLC purchased a new position in shares of Bakkt during the 1st quarter valued at approximately $56,000. Finally, Invesco Ltd. raised its stake in Bakkt by 46.8% in the 1st quarter. Invesco Ltd. now owns 21,080 shares of the company's stock valued at $183,000 after purchasing an additional 6,717 shares during the last quarter. Institutional investors and hedge funds own 11.11% of the company's stock.

About Bakkt

Bakkt Holdings, Inc offers software as a service and application programming interface solutions for crypto and loyalty, powering engagement, and performance. The company operates Bakkt Marketplace, a platform that enables consumers to buy, sell, and store crypto in an embedded web experience; Bakkt Crypto, a platform that supports clients with a range of crypto solutions; and Bakkt Trust, institutional-grade qualified custody solution for market participants.