Andrew A. Main Sells 14,440 Shares of Bakkt Holdings, Inc. (NYSE:BKKT) Stock

Bakkt Holdings, Inc. (NYSE:BKKT) CEO Andrew A. Main sold 14,440 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $18.21, for a total transaction of $262,952.40. Following the completion of the sale, the chief executive officer directly owned 431,963 shares of the company’s stock, valued at $7,866,046.23. This trade represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Bakkt Stock Performance

Shares of BKKT opened at $24.06 on Friday. The stock’s fifty day moving average is $14.19 and its 200-day moving average is $14.62. The firm has a market capitalization of $334.66 million, a price-to-earnings ratio of -4.87 and a beta of 5.35. Bakkt Holdings, Inc. has a one year low of $6.81 and a one year high of $37.21.

Bakkt (NYSE:BKKT) last issued its quarterly earnings results on Monday, May 12th. The company reported ($2.81) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $17.20 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BKKT. JPMorgan Chase & Co. lifted its position in shares of Bakkt by 2,231.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,725 shares of the company’s stock worth $43,000 after buying an additional 1,651 shares during the last quarter. Barclays PLC increased its holdings in Bakkt by 73.4% during the 4th quarter. Barclays PLC now owns 5,091 shares of the company’s stock valued at $126,000 after purchasing an additional 2,155 shares during the period. Flaharty Asset Management LLC purchased a new position in Bakkt during the 1st quarter valued at about $26,000. AlphaQuest LLC purchased a new position in shares of Bakkt during the 1st quarter worth approximately $56,000. Finally, Invesco Ltd. boosted its position in shares of Bakkt by 46.8% in the 1st quarter. Invesco Ltd. now owns 21,080 shares of the company’s stock worth $183,000 after purchasing an additional 6,717 shares in the last quarter. Institutional investors and hedge funds own 11.11% of the company’s stock.

Bakkt Company Profile

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.