Bakkt COO Nicholas Baes sells $10,951 in BKKT stock
Nicholas Baes, COO of Bakkt, Inc. (BKKT), sold 1,272 shares of the company's Class A Common Stock on September 23, 2026. The transaction, reported to the SEC, was executed at $8.61 per share, amounting to $10,951. Baes sold these shares to satisfy tax obligations related to the vesting of restricted stock units. Despite Bakkt shares losing 54% of their value over the past year, the stock rebounded 11% in the last three months.
Following the sale, Baes holds 104,103 shares of BKKT, including 44,330 unvested restricted stock units. Analysts view Bakkt as potentially undervalued, with forecasts suggesting the company will become profitable this year. Bakkt's financial results for Q2 2026 revealed strong earnings per share of $1.94, exceeding expectations, but revenue fell short at $170.14 million, a 70% decrease from the prior year.
Benchmark lowered its price target for Bakkt from $19.00 to $12.00, maintaining a Buy rating due to the revenue decline.
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