Kingswood Wealth Advisors LLC Buys New Position in Bakkt Holdings, Inc. (NYSE:BKKT)

Kingswood Wealth Advisors LLC acquired a new stake in shares of Bakkt Holdings, Inc. (NYSE:BKKT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 176,780 shares of the company’s stock, valued at approximately $394,000. Kingswood Wealth Advisors LLC owned approximately 0.06% of Bakkt as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors grew its stake in Bakkt by 320.5% during the 1st quarter. Captrust Financial Advisors now owns 6,560 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares in the last quarter. Bank of Montreal Can acquired a new stake in Bakkt during the 1st quarter valued at approximately $66,000. Price T Rowe Associates Inc. MD acquired a new stake in Bakkt during the 3rd quarter valued at approximately $27,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Bakkt during the 1st quarter valued at approximately $76,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Bakkt during the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 11.11% of the company’s stock.

Bakkt Stock Up 5.8 %

Shares of Bakkt stock opened at $0.48 on Thursday. The business’s fifty day moving average price is $0.93 and its two-hundred day moving average price is $1.25. Bakkt Holdings, Inc. has a 1-year low of $0.41 and a 1-year high of $2.75.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $0.75 target price on shares of Bakkt in a research report on Tuesday. Citigroup cut their price target on Bakkt from $0.50 to $0.30 and set a “sell” rating on the stock in a report on Wednesday.

Insider Transactions at Bakkt

In other news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Marc D’annunzio sold 50,247 shares of Bakkt stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $0.88, for a total value of $44,217.36. Following the completion of the transaction, the general counsel now owns 566,630 shares in the company, valued at $498,634.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 505,508 shares of company stock valued at $1,123,925. Corporate insiders own 1.93% of the company’s stock.

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.