Insider Selling: Bakkt (NYSE:BKKT) CAO Sells $24,634.61 in Stock

Bakkt Holdings, Inc. (NYSE:BKKT) CAO Joseph Sean-Walsh Henderson sold 2,461 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $10.01, for a total value of $24,634.61. Following the transaction, the chief accounting officer owned 10,936 shares of the company’s stock, valued at $109,469.36. This represents a 18.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Joseph Sean-Walsh Henderson also recently made the following trade(s):

• On Wednesday, November 12th, Joseph Sean-Walsh Henderson sold 169 shares of Bakkt stock. The stock was sold at an average price of $21.50, for a total value of $3,633.50.

Bakkt Stock Performance

Shares of Bakkt stock traded down $0.28 during trading on Tuesday, hitting $10.29. 851,033 shares of the stock were exchanged, compared to its average volume of 1,238,284. Bakkt Holdings, Inc. has a 12 month low of $6.81 and a 12 month high of $49.79. The stock’s fifty day moving average is $19.70 and its 200 day moving average is $17.56. The stock has a market cap of $320.94 million, a PE ratio of -2.01 and a beta of 5.89.

Analyst Ratings Changes

BKKT has been the subject of several analyst reports. Benchmark began coverage on Bakkt in a research report on Monday, September 8th. They set a “buy” rating and a $13.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bakkt in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.00.

Institutional Trading of Bakkt

Several institutional investors have recently modified their holdings of BKKT. Invesco Ltd. grew its holdings in Bakkt by 46.8% during the first quarter. Invesco Ltd. now owns 21,080 shares of the company’s stock worth $183,000 after acquiring an additional 6,717 shares during the period. AlphaQuest LLC bought a new stake in shares of Bakkt in the 1st quarter worth approximately $56,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Bakkt in the 1st quarter worth approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bakkt by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,734 shares of the company’s stock valued at $821,000 after purchasing an additional 10,018 shares during the last quarter. Finally, Flaharty Asset Management LLC bought a new stake in Bakkt during the first quarter worth approximately $26,000. Institutional investors and hedge funds own 11.11% of the company’s stock.

Bakkt Company Profile

Bakkt Holdings, Inc is a digital asset platform that aims to bridge traditional finance and digital assets by offering institutional-grade custody, trading and settlement services. Established in 2018 by Intercontinental Exchange (ICE), the company initially made headlines with the launch of its physically settled Bitcoin futures contracts in 2019. Since then, Bakkt has expanded its product lineup to include spot trading of cryptocurrencies, a secure digital wallet for retail customers and a payment gateway that enables merchants to accept digital assets alongside fiat currencies.

The company’s core offering centers on its custody infrastructure, which is built to meet robust regulatory and security standards.