Bakkt (NYSE:BKKT – Free Report) had its price objective decreased by Citigroup from $0.50 to $0.30 in a research note published on Wednesday, Benzinga reports. Citigroup currently has a sell rating on the stock.
Separately, Rosenblatt Securities reiterated a buy rating and set a $0.75 target price on shares of Bakkt in a report on Tuesday.
Check Out Our Latest Analysis on BKKT
Bakkt Price Performance
Insider Activity
In other news, General Counsel Marc D’annunzio sold 42,807 shares of Bakkt stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $1.27, for a total transaction of $54,364.89. Following the completion of the transaction, the general counsel now directly owns 667,320 shares in the company, valued at $847,496.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Marc D’annunzio sold 42,807 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $1.27, for a total transaction of $54,364.89. Following the completion of the sale, the general counsel now owns 667,320 shares of the company’s stock, valued at $847,496.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The stock was bought at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 112,383 shares of company stock worth $117,525. Insiders own 1.93% of the company’s stock.
Institutional Investors Weigh In On Bakkt
Hedge funds have recently modified their holdings of the business. PEAK6 Investments LLC bought a new stake in shares of Bakkt during the 3rd quarter valued at $7,185,000. Horizon Kinetics Asset Management LLC lifted its stake in shares of Bakkt by 2.1% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 492,887 shares of the company’s stock valued at $606,000 after buying an additional 10,149 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Bakkt during the 4th quarter valued at $394,000. Vontobel Holding Ltd. purchased a new position in shares of Bakkt during the 3rd quarter valued at $35,000. Finally, Van ECK Associates Corp lifted its stake in shares of Bakkt by 17.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,965,802 shares of the company’s stock valued at $2,300,000 after buying an additional 295,860 shares in the last quarter. Institutional investors own 11.11% of the company’s stock.
Bakkt Company 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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