Van ECK Associates Corp grew its holdings in shares of Bakkt Holdings, Inc. (NYSE:BKKT – Free Report) by 57.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,460,612 shares of the company’s stock after acquiring an additional 533,344 shares during the quarter. Van ECK Associates Corp owned 0.55% of Bakkt worth $2,513,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD acquired a new position in shares of Bakkt in the third quarter valued at approximately $27,000. Point72 Hong Kong Ltd acquired a new position in shares of Bakkt in the second quarter valued at approximately $30,000. Captrust Financial Advisors increased its stake in shares of Bakkt by 320.5% in the first quarter. Captrust Financial Advisors now owns 6,560 shares of the company’s stock valued at $40,000 after buying an additional 5,000 shares during the period. Bank of Montreal Can acquired a new position in shares of Bakkt in the fourth quarter valued at approximately $41,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Bakkt by 89.1% in the third quarter. Cubist Systematic Strategies LLC now owns 21,600 shares of the company’s stock valued at $49,000 after buying an additional 10,177 shares during the period. Institutional investors and hedge funds own 8.39% of the company’s stock.
Insider Activity at Bakkt
In related news, Director Impact Acquisition Holding Vpc sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $1.58, for a total value of $316,000.00. Following the sale, the director now directly owns 5,844,254 shares in the company, valued at $9,233,921.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 641,185 shares of company stock worth $1,053,004 over the last ninety days. Insiders own 1.93% of the company’s stock.
Bakkt Stock Down 5.0 %
Bakkt (NYSE:BKKT – Get Free Report) last announced its earnings results on Thursday, May 11th. The company reported ($0.17) EPS for the quarter, meeting the consensus estimate of ($0.17). Bakkt had a positive return on equity of 133.00% and a negative net margin of 1,057.17%. The business had revenue of $13.00 million for the quarter, compared to analysts’ expectations of $14.50 million. On average, sell-side analysts anticipate that Bakkt Holdings, Inc. will post -0.62 EPS for the current year.
Bakkt Profile
Bakkt Holdings, Inc offers a platform for crypto and redeeming loyalty points. The company's institutional-grade technology platform offers various solutions, such as Custody, an institutional-grade custody solution for market participants; Crypto Connect, a platform that enables consumers, businesses, and institutions to buy, sell, and store crypto in a digital experience; Crypto Rewards that focuses on enabling customers to earn crypto rewards, as well as redeem existing reward currencies into crypto; and Crypto Payouts for customers to automatically invest a portion of payments into crypto.
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