Bakkt, Inc. (NYSE: BKKT) reported second-quarter 2026 revenue of $170.1 million, well below the $380.7 million analyst estimate. Revenue fell 70.6% from a year earlier, while gross profit dropped to just $893,000, underscoring the sharp decline in top-line performance.
The company posted an operating loss of $19.6 million, but that was slightly better than a year ago. Bakkt also reported net income attributable to common shareholders of $80.8 million, or $1.94 per diluted share, though both figures were down sharply from the prior year on a percentage basis.
Cash flow remained under pressure, with operating activities using $14.8 million of cash during the quarter. Bakkt ended the period with $50.0 million in cash and cash equivalents, while total liabilities declined to $49.2 million.
- Revenue: $170.1 million
- Gross profit: $893,000
- Operating loss: $19.6 million
- Net income: $80.8 million
- Cash and equivalents: $50.0 million
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
Bakkt, Inc. Insider Trading Activity
Bakkt, Inc. insiders have traded $BKKT stock on the open market 20 times in the past 6 months. Of those trades, 4 have been purchases and 16 have been sales.
Here’s a breakdown of recent trading of $BKKT stock by insiders over the last 6 months:
- MICHAEL ALFRED has made 4 purchases buying 865,000 shares for an estimated $7,018,900 and 0 sales.
- MARC D'ANNUNZIO (General Counsel & Secretary) has made 0 purchases and 8 sales selling 23,787 shares for an estimated $196,961.
- KAREN ALEXANDER (Chief Financial Officer) has made 0 purchases and 3 sales selling 7,248 shares for an estimated $63,432.
- NICHOLAS BAES (Chief Operating Officer) has made 0 purchases and 3 sales selling 4,625 shares for an estimated $39,235.
- JOSEPH SEAN-WALSH HENDERSON (Chief Accounting Officer) has made 0 purchases and 2 sales selling 443 shares for an estimated $3,550.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
Bakkt, Inc. Hedge Fund Activity
We have seen 62 institutional investors add shares of Bakkt, Inc. stock to their portfolio, and 45 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 1,932,455 shares (+167.5%) to their portfolio in Q2 2026, for an estimated $15,092,473
- ALYESKA INVESTMENT GROUP, L.P. added 1,023,810 shares (+inf%) to their portfolio in Q1 2026, for an estimated $7,535,241
- TIDAL INVESTMENTS LLC added 817,424 shares (+628.2%) to their portfolio in Q1 2026, for an estimated $6,016,240
- LMR PARTNERS LLP added 566,971 shares (+inf%) to their portfolio in Q1 2026, for an estimated $4,172,906
- STATE STREET CORP added 448,228 shares (+158.0%) to their portfolio in Q2 2026, for an estimated $3,500,660
- TWO SIGMA INVESTMENTS, LP removed 417,622 shares (-87.8%) from their portfolio in Q1 2026, for an estimated $3,073,697
- CITADEL ADVISORS LLC added 286,689 shares (+356.6%) to their portfolio in Q1 2026, for an estimated $2,110,031
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Bakkt, Inc. Price Targets
Multiple analysts have issued price targets for $BKKT recently. We have seen 2 analysts offer price targets for $BKKT in the last 6 months, with a median target of $21.5.
Here are some recent targets:
- Brian Dobson from Clear Street set a target price of $21.0 on 03/20/2026
- Mark Palmer from Benchmark set a target price of $22.0 on 03/18/2026
