Bakkt general counsel D’Annunzio sells $10,951 in BKKT stock

Marc D’Annunzio, General Counsel and Secretary of Bakkt, Inc. (NASDAQ:BKKT), recently sold 1,272 shares of the company's Class A Common Stock on September 23, 2026. The transaction amounted to $10,951, with each share sold at $8.61, slightly higher than the current stock price of $8.50. Over the past year, the stock has experienced a 54% decline, trading 83% below its 52-week high of $49.79.

However, InvestingPro analysis indicates that the stock might be undervalued at present levels. D’Annunzio made this sale to satisfy tax obligations related to the vesting of restricted stock units. As a result of this transaction, he now beneficially owns 107,006 shares of Bakkt Class A Common Stock, comprising 8,553 shares still subject to vesting.

For a more detailed analysis of Bakkt's financial health and stock valuation, investors can refer to the comprehensive Pro Research Report, which covers BKKT and 1,400+ other US equities on InvestingPro. Recently, Bakkt Holdings reported its financial results for the second quarter of 2026, achieving an earnings beat but falling short of revenue expectations.

The company reported diluted earnings per share of $1.94, which exceeded Wall Street's estimate of $0.07. Nonetheless, revenue for the quarter was $170.14 million, significantly lower than the projected $314.77 million. Additionally, Bakkt posted a net income of $80.8 million for the quarter. Benchmark has adjusted its price target on Bakkt from $19.00 to $12.00, maintaining a Buy rating.

Analyst Mark Palmer from Benchmark noted a 70% year-over-year revenue decline as a significant factor in the revised price target. These recent developments highlight the challenges Bakkt faces regarding revenue despite its positive earnings performance. This article was generated with AI assistance and reviewed by an editor for accuracy.