BKKT Bakkt, Inc. Insider Trading

Director Michael Alfred purchases 280,000 shares at $7.75 avg ($2.2M), expanding stake 44.8%, amid -33.1% revenue decline

Michael Alfred, a Director at Bakkt, executed 2 separate purchases totaling 280,000 shares for $2,170,800.00 ($2.2M) over two consecutive trading days at a blended average price of $7.75, expanding his post-transaction holdings to 905,000 shares from 625,000 shares. The timing follows periods of significant stock deterioration: the current price of $8.43 sits -83.1% below the 52-week high of $49.79, and the company's annual revenue growth has contracted -33.1% year-over-year while net income remains deeply negative at $-11,650,000.00. Alfred's cross-ticker track record shows limited historical success (2 prior buys with average 30-day return of +1.1%), and his two prior trades at BKKT on 2026-05-15 and 2026-05-18 have not yet produced measurable 90-day outcomes. The material size of this purchase—44.8% expansion of his prior holdings—occurs when the stock has recovered only 5.1% over 30 days against a challenging fundamental backdrop marked by revenue contraction and persistent unprofitability.

Director Michael Alfred purchased 585,000 shares for $4,848,100.00 across 2 transactions, expanding stake from 40,000 to 625,000 shares (+1462.5%).

Michael Alfred, a Director at Bakkt, Inc., executed two separate share purchases totaling 585,000 shares for $4,848,100.00 on May 15 and May 18, 2026, at an average price of $8.29. His holdings expanded dramatically from 40,000 to 625,000 shares, representing a 1462.5% increase in his stake. This substantial acquisition occurred while the stock trades at $8.72, down 5.1% over the past 30 days and 15.0% over the past 90 days, well below its 52-week high of $49.79. The company reported negative net income of $-11.6M on recent quarterly revenue of $577.9M, with annual revenue declining 33.1% year-over-year, presenting a contracting and unprofitable business. The scale and timing of this multi-transaction purchase merit investor scrutiny given the company's operational headwinds and the director's substantial capital commitment at depressed valuation levels relative to the year's trading range.

CEO Akshay Sudhir bought 180,000 shares for $1,474,404.00 at BKKT, expanding stake 1575.4% while stock is -74.2% from 52-week high.

Naheta Akshay Sudhir, CEO and President, executed 3 separate purchases totaling 180,000 shares for $1,474,404.00 on August 21-22, 2025, raising his holdings from 11,426 shares to 191,426 shares. The transaction occurred at a blended average price of $8.19, while the current price stands at $8.38, and the stock trades at -74.2% from its 52-week high of $32.44 and is down -53.6% over the preceding 30 days. Bakkt reported revenue of $577,882,000.00 in its latest quarter with annual revenue growth of +347.4%, but remains unprofitable with net income of $-14,734,000.00 in its most recent full fiscal year. The large share acquisition by the CEO during a period of severe price depreciation warrants investor scrutiny regarding management's assessment of intrinsic value relative to recent market performance.