Bakkt (NYSE:BKKT) CAO Joseph Sean-Walsh Henderson Sells 2,461 Shares of Stock

Bakkt Holdings, Inc. (NYSE:BKKT) CAO Joseph Sean-Walsh Henderson sold 2,461 shares of the company’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 completion of the sale, the chief accounting officer owned 10,936 shares in the company, valued at approximately $109,469.36. This represents a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 transaction of $3,633.50.

Bakkt Stock Down 2.6%

Shares of BKKT stock opened at $10.29 on Wednesday. The company has a market capitalization of $320.94 million, a P/E ratio of -2.01 and a beta of 5.89. Bakkt Holdings, Inc. has a 12-month low of $6.81 and a 12-month high of $49.79. The firm has a 50-day moving average price of $19.70 and a 200 day moving average price of $17.56.

Hedge Funds Weigh In On Bakkt

Several large investors have recently bought and sold shares of BKKT. Advisory Services Network LLC acquired a new stake in Bakkt during the 3rd quarter worth $30,000. Sassicaia Capital Advisers LLC acquired a new stake in shares of Bakkt during the third quarter worth $266,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Bakkt during the third quarter worth $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Bakkt by 65.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,430 shares of the company’s stock valued at $4,625,000 after purchasing an additional 54,494 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Bakkt by 39.8% in the third quarter. Bank of America Corp DE now owns 4,169 shares of the company’s stock valued at $140,000 after buying an additional 1,187 shares during the period. 11.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.