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% from a year earlier and 21.65% below analysts' expectations of $310.89 million.

The company posted a loss of 41 cents per share, compared with the consensus estimate for a loss of 10 cents per share, missing expectations by 310%.

Intercontinental Exchange Bakkt’s largest shareholder with an approximately 19.8% stake, founded the digital asset platform in 2018. Leading institutional investors, including BlackRock (NYSE:BLK), Vanguard Group and Citadel Advisors, also hold positions in the company.

The platform supports trading in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), USD Coin (CRYPTO: USDC), Dogecoin (CRYPTO: DOGE) and Litecoin (CRYPTO: LTC), among others.

Trading Metrics, Technical Analysis

Bakkt has a market capitalization of $389.02 million, with a 52-week high of $49.79 and a 52-week low of $6.87.

The stock of the regulated financial technology company has a Relative Strength Index (RSI) of 49.38.

Over the past 12 months, BKKT has dropped 33.84%.

The small-cap stock is currently trading close to its annual low.

Price Action: According to Benzinga Pro data, the stock closed the regular session at $8.72, up 5.31%.

Benzinga's Edge Stock Rankings indicate that BKKT has a negative price trend across all time frames.

Photo Courtesy: Ascannio on Shutterstock.com

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.