Bakkt Inc. (NYSE:BKKT) shares jumped 16.17% to $10.13 after the bell on Monday, after Securities and Exchange Commission filings disclosed insider activity.
Insider Activity
Director Michael Alfred, through the Las Vegas-based hedge fund Alpine Fox LP, bought 365,000 shares on May 15 at a weighted average price of $8.34 per share. He then purchased another 220,000 shares on May 18 at $8.20 per share.
The two transactions totaled about 585,000 shares valued at approximately $4.85 million. Following the purchases, Alfred indirectly owns 625,000 shares.
According to a separate SEC filing, CEO Akshay Sudhir Naheta exercised 33,557 committed stock options on May 15 at $10 per share, for a total value of about $335,570. The transaction was carried out under a pre-established Rule 10b5-1 plan, an SEC-approved trading arrangement that allows corporate insiders to buy or sell shares on a fixed schedule while helping protect them from insider trading liability.
What You Should Know
On May 11, Bakkt reported first-quarter 2026 revenue of $243.59 million, down 77.1% …