Bullish $BLSH Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Bullish (NYSE:BLSH) by 51.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,833,886 shares of the company’s stock after buying an additional 1,304,573 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Bullish were worth $136,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rakuten Securities Inc. acquired a new stake in Bullish in the 4th quarter valued at about $28,000. Strs Ohio acquired a new position in shares of Bullish in the 4th quarter worth approximately $30,000. MetLife Investment Management LLC bought a new stake in shares of Bullish in the 4th quarter worth approximately $30,000. Kestra Advisory Services LLC acquired a new stake in Bullish during the fourth quarter valued at approximately $61,000. Finally, Allworth Financial LP acquired a new stake in Bullish during the third quarter valued at approximately $65,000.

Analyst Ratings Changes

Several research analysts have issued reports on BLSH shares. Citigroup decreased their price target on shares of Bullish from $67.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Rosenblatt Securities raised their price objective on Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Wall Street Zen cut Bullish from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. JPMorgan Chase & Co. cut their target price on Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $61.00 target price on shares of Bullish in a report on Friday, May 15th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.67.

Insider Activity

In other news, CEO Thomas W. Farley sold 80,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the transaction, the chief executive officer directly owned 80,000 shares in the company, valued at $3,516,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Bullish Stock Down 2.1%

NYSE:BLSH traded down $0.52 during trading hours on Friday, hitting $24.28. 830,520 shares of the company’s stock traded hands, compared to its average volume of 1,589,436. The firm has a market cap of $3.66 billion and a P/E ratio of -3.71. Bullish has a twelve month low of $21.76 and a twelve month high of $118.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 25.23 and a current ratio of 26.42. The stock’s fifty day moving average price is $30.99 and its two-hundred day moving average price is $34.66.

Bullish (NYSE:BLSH) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The business had revenue of $92.83 million for the quarter. Bullish’s revenue for the quarter was up 48.8% compared to the same quarter last year. On average, research analysts expect that Bullish will post 0.6 earnings per share for the current fiscal year.

Bullish Company Profile

Bullish (NYSE: BLSH) is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm’s stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.