Vanguard Group Inc. raised its stake in Bakkt Holdings, Inc. (NYSE:BKKT - Free Report) by 9.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,722,829 shares of the company's stock after acquiring an additional 313,227 shares during the quarter. Vanguard Group Inc. owned approximately 28.93% of Bakkt worth $1,712,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. AJOVista LLC purchased a new stake in shares of Bakkt in the fourth quarter valued at $65,000. International Assets Investment Management LLC grew its position in shares of Bakkt by 155.8% in the fourth quarter. International Assets Investment Management LLC now owns 31,332 shares of the company's stock valued at $70,000 after purchasing an additional 19,082 shares during the period. Walled Lake Planning & Wealth Management LLC purchased a new stake in shares of Bakkt in the fourth quarter valued at $84,000. Quadrature Capital Ltd purchased a new stake in shares of Bakkt in the fourth quarter valued at $89,000. Finally, Chesapeake Capital Corp IL purchased a new stake in shares of Bakkt in the fourth quarter valued at $90,000. 11.11% of the stock is owned by institutional investors and hedge funds.
Bakkt Stock Up 7.7 %
Shares of NYSE:BKKT traded up $1.03 during midday trading on Wednesday, reaching $14.49. The company's stock had a trading volume of 68,107 shares, compared to its average volume of 269,368. The business has a 50 day moving average price of $17.28 and a 200 day moving average price of $16.01. Bakkt Holdings, Inc. has a 1 year low of $5.57 and a 1 year high of $68.75. The firm has a market cap of $194.60 million, a price-to-earnings ratio of -0.78 and a beta of 4.80.
Bakkt (NYSE:BKKT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($2.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.77) by ($0.90). Bakkt had a negative net margin of 3.85% and a negative return on equity of 47.29%. The firm had revenue of $509.90 million for the quarter, compared to analysts' expectations of $877.20 million. During the same period last year, the firm posted ($4.75) EPS. Sell-side analysts anticipate that Bakkt Holdings, Inc. will post -6.47 earnings per share for the current fiscal year.
Bakkt Company Profile
(
Free Report)
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.
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