Marc D’annunzio Sells 10,000 Shares of Bakkt Holdings, Inc. (NYSE:BKKT) Stock

Bakkt Holdings, Inc. (NYSE:BKKT) General Counsel Marc D’annunzio sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $14.21, for a total transaction of $142,100.00. Following the transaction, the general counsel now directly owns 69,807 shares of the company’s stock, valued at approximately $991,957.47. This trade represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bakkt Stock Performance

Shares of NYSE:BKKT opened at $12.80 on Friday. The business’s fifty day moving average price is $9.88 and its two-hundred day moving average price is $17.08. The stock has a market cap of $175.49 million, a PE ratio of -1.05 and a beta of 5.41. Bakkt Holdings, Inc. has a one year low of $6.81 and a one year high of $37.21.

Bakkt (NYSE:BKKT) last posted its quarterly earnings data on Monday, May 12th. The company reported ($2.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($2.08). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $17.20 million. Bakkt had a negative net margin of 2.84% and a negative return on equity of 62.65%.

Institutional Investors Weigh In On Bakkt

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Bakkt by 137.0% during the fourth quarter. Geode Capital Management LLC now owns 152,884 shares of the company’s stock valued at $3,788,000 after buying an additional 88,370 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Bakkt during the 1st quarter worth $210,000. 683 Capital Management LLC acquired a new stake in shares of Bakkt during the fourth quarter worth $359,000. Northern Trust Corp purchased a new stake in shares of Bakkt in the fourth quarter valued at $354,000. Finally, OFI Invest Asset Management acquired a new position in Bakkt in the fourth quarter valued at $304,000. 11.11% of the stock is owned by institutional investors and hedge funds.

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.