Bakkt, Inc.
BKKT, BKKT-WT · Finance Services · 44.6M shares · -49%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$13M (gross $3M, SBC $15M)
Reference price $7.83 · est. market cap ~$349M — last insider purchase, 2026-06-10 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D47Bakkt — crypto-custody/payments platform with operating losses.
Strengths
- Adequate liquidity (current 2.2)
Risks
- Operating margin -6%; ROE -95% (17th pct)
- Crypto-volume dependence; going-concern-type history
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -4.6%)
- Insider buyingInsider buying — 4 open-market buy(s) by 1 insider(s) (~$7M, last 6mo) Form 4 ↗
- Buying back stockNet buyback — share count -49%/yr over 4y
- Revenue declineRevenue -46.2% YoY
- Insider sellingInsider selling — 8 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-6.3%
Net margin
-4.6%
Return on equity
-95.1%
Return on assets
-65.9%
Revenue growth (QoQ)
-46.2%
Current ratio
2.2×
EBITDA
-$147M
Tangible book value
$43M
Cash & investments
$27M
Stock comp / revenue
3.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-10 | ALFRED MICHAEL | Buy | 100K | $7.83 |
| 2026-06-09 | ALFRED MICHAEL | Buy | 180K | $7.71 |
| 2026-05-18 | ALFRED MICHAEL | Buy | 220K | $8.20 |
| 2026-05-15 | D'Annunzio Marc | Option exercise | 1.7K | $10.00 |
| 2026-05-15 | Alexander Karen | Option exercise | 335 | $10.00 |
| 2026-05-15 | Naheta Akshay Sudhir | Option exercise | 34K | $10.00 |
| 2026-05-15 | ALFRED MICHAEL | Buy | 365K | $8.34 |
| 2026-05-15 | Baes Nicholas | Option exercise | 671 | $10.00 |
| 2026-04-30 | Naheta Akshay Sudhir | Grant | 7.9M | — |
| 2026-04-28 | Baes Nicholas | Sell | 2.4K | $9.13 |
| 2026-04-28 | D'Annunzio Marc | Sell | 3.8K | $9.13 |
| 2026-04-28 | D'Annunzio Marc | Sell | 4.0K | $8.60 |
| 2026-04-28 | Alexander Karen | Sell | 4.7K | $9.13 |
| 2026-04-06 | Baes Nicholas | Sell | 711 | $7.56 |
| 2026-03-30 | D'Annunzio Marc | Sell | 5.3K | $7.08 |
| 2026-03-27 | D'Annunzio Marc | Sell | 6.4K | $8.55 |
| 2026-02-24 | D'Annunzio Marc | Sell | 785 | $10.09 |
| 2025-12-19 | Henderson Joseph Sean-Walsh | Sell | 2.5K | $10.01 |
| 2025-11-19 | ALFRED MICHAEL | Grant | 9.0K | — |
| 2025-11-14 | Naheta Akshay Sudhir | Option exercise | 804K | — |
| 2025-11-14 | Naheta Akshay Sudhir | Option exercise | 804K | — |
| 2025-11-14 | Baes Nicholas | Tax withheld | 198 | $21.61 |
| 2025-11-14 | D'Annunzio Marc | Tax withheld | 495 | $21.61 |
| 2025-11-14 | Alexander Karen | Tax withheld | 121 | $21.61 |
| 2025-11-12 | D'Annunzio Marc | Option exercise | 1.7K | $10.00 |
| 2025-11-12 | Naheta Akshay Sudhir | Option exercise | 34K | $10.00 |
| 2025-11-12 | Baes Nicholas | Option exercise | 671 | $10.00 |
| 2025-11-12 | Alexander Karen | Option exercise | 335 | $10.00 |
| 2025-11-12 | Henderson Joseph Sean-Walsh | Sell | 169 | $21.50 |
| 2025-11-03 | Naheta Akshay Sudhir | Grant | 70K | $39.34 |
| 2025-11-03 | D'Annunzio Marc | Option exercise | 48K | — |
| 2025-10-30 | ALFRED MICHAEL | Grant | 139 | — |
| 2025-09-25 | Baes Nicholas | Tax withheld | 810 | $20.00 |
| 2025-08-28 | Alexander Karen | Tax withheld | 483 | $8.89 |
| 2025-08-22 | Naheta Akshay Sudhir | Buy | 30K | $8.55 |
| 2025-08-21 | Naheta Akshay Sudhir | Buy | 100K | $8.18 |
| 2025-08-21 | Naheta Akshay Sudhir | Buy | 50K | $8.00 |
| 2025-07-15 | Henderson Joseph Sean-Walsh | Sell | 95 | $18.75 |
| 2025-07-15 | Main Andrew A | Sell | 14K | $18.21 |
| 2025-07-15 | D'Annunzio Marc | Sell | 559 | $18.21 |
| 2025-07-15 | Alexander Karen | Sell | 671 | $18.21 |
| 2025-06-17 | Collins Sean Roberts | Grant | 30K | — |
| 2025-06-17 | BROWN COLLEEN B | Grant | 17K | — |
| 2025-06-17 | Simeone Jill | Grant | 17K | — |
| 2025-06-17 | GOLDBERG MICHELLE J | Grant | 17K | — |
| 2025-06-17 | Watson Gordon | Grant | 21K | — |
| 2025-06-17 | Dow De'Ana | Grant | 17K | — |
| 2025-05-14 | D'Annunzio Marc | Sell | 10K | $14.21 |
| 2025-05-14 | Dow De'Ana | Sell | 19K | $12.89 |
| 2025-04-28 | Baes Nicholas | Tax withheld | 2.5K | $8.93 |
| 2025-04-28 | D'Annunzio Marc | Tax withheld | 3.5K | $8.93 |
| 2025-04-28 | Alexander Karen | Tax withheld | 4.2K | $8.93 |
| 2025-04-21 | Naheta Akshay Sudhir | Grant | 11K | — |
| 2025-04-11 | Baes Nicholas | Grant | 34K | — |
| 2025-04-11 | Henderson Joseph Sean-Walsh | Grant | 6.3K | — |
| 2025-04-11 | Main Andrew A | Grant | 58K | — |
| 2025-04-11 | D'Annunzio Marc | Grant | 34K | — |
| 2025-04-11 | Alexander Karen | Grant | 34K | — |
| 2025-04-09 | Baes Nicholas | Tax withheld | 800 | $9.08 |
| 2025-03-27 | Main Andrew A | Tax withheld | 51K | $10.94 |
| 2025-02-19 | D'Annunzio Marc | Tax withheld | 174 | $14.84 |
| 2025-02-19 | D'Annunzio Marc | Tax withheld | 852 | $14.84 |
| 2025-02-19 | Alexander Karen | Tax withheld | 209 | $14.84 |
| 2025-02-19 | Alexander Karen | Tax withheld | 1.0K | $14.84 |
| 2025-02-13 | Main Andrew A | Grant | 61K | — |
| 2025-02-13 | D'Annunzio Marc | Grant | 3.5K | — |
| 2025-02-13 | Alexander Karen | Grant | 3.5K | — |
| 2025-02-05 | D'Annunzio Marc | Tax withheld | 347 | $17.56 |
| 2025-02-05 | Alexander Karen | Tax withheld | 173 | $17.56 |
| 2025-01-22 | D'Annunzio Marc | Tax withheld | 809 | $28.84 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-26 | Shareholder vote | filing ↗ |
| 2026-06-04 | Other | filing ↗ |
| 2026-05-11 | ResultsExhibits | filing ↗ |
| 2026-04-30 | Acquisition/disposition3.025.01Reg FDExhibits | filing ↗ |
| 2026-04-20 | Shareholder vote | filing ↗ |
| 2026-03-24 | Other | filing ↗ |
| 2026-03-17 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-02 | Material agreementReg FDOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-26 | 2026-06-25 | 0001628280-26-045627 ↗ |
| 8-K | 2026-06-04 | 2026-06-03 | 0001628280-26-040634 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001628280-26-033588 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001628280-26-033576 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001193125-26-197835 ↗ |
| 8-K | 2026-04-20 | 2026-04-17 | 0001628280-26-025920 ↗ |
| 8-K | 2026-03-24 | 2026-03-24 | 0001628280-26-020821 ↗ |
| 10-K | 2026-03-19 | 2025-12-31 | 0001628280-26-019870 ↗ |
| 8-K | 2026-03-17 | 2026-03-16 | 0001628280-26-018400 ↗ |
| 8-K | 2026-03-02 | 2026-02-27 | 0001193125-26-085441 ↗ |
| 8-K | 2026-01-20 | 2026-01-20 | 0001193125-26-015873 ↗ |
| 8-K | 2026-01-20 | 2026-01-16 | 0001193125-26-016077 ↗ |