Bakkt Holdings, Inc. (NYSE:BKKT) Position Trimmed by Headlands Technologies LLC

Headlands Technologies LLC decreased its holdings in shares of Bakkt Holdings, Inc. (NYSE:BKKT) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,036 shares of the company’s stock after selling 2,955 shares during the period. Headlands Technologies LLC’s holdings in Bakkt were worth $52,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. 683 Capital Management LLC bought a new stake in Bakkt during the fourth quarter valued at $359,000. Northern Trust Corp bought a new position in shares of Bakkt during the fourth quarter worth about $354,000. Barclays PLC grew its position in shares of Bakkt by 73.4% during the fourth quarter. Barclays PLC now owns 5,091 shares of the company’s stock worth $126,000 after acquiring an additional 2,155 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Bakkt by 137.0% during the fourth quarter. Geode Capital Management LLC now owns 152,884 shares of the company’s stock worth $3,788,000 after acquiring an additional 88,370 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Bakkt by 2,231.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,725 shares of the company’s stock worth $43,000 after acquiring an additional 1,651 shares during the last quarter. Institutional investors own 11.11% of the company’s stock.

Bakkt Stock Performance

Bakkt stock opened at $9.30 on Wednesday. The company has a 50-day simple moving average of $15.04 and a 200-day simple moving average of $12.99. The firm has a market capitalization of $129.36 million, a P/E ratio of -2.10 and a beta of 5.31. Bakkt Holdings, Inc. has a one year low of $6.81 and a one year high of $37.21.

Bakkt (NYSE:BKKT) last released its quarterly earnings results on Monday, August 11th. The company reported ($2.16) EPS for the quarter, missing the consensus estimate of ($0.69) by ($1.47). The firm had revenue of $577.88 million for the quarter, compared to the consensus estimate of $17.10 million. Bakkt had a negative return on equity of 92.04% and a negative net margin of 0.77%.

Insider Activity at Bakkt

In other news, CEO Andrew A. Main sold 14,440 shares of the company’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $18.21, for a total transaction of $262,952.40. Following the completion of the transaction, the chief executive officer owned 431,963 shares in the company, valued at approximately $7,866,046.23. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 30,669 shares of company stock worth $558,482 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

About Bakkt

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.