Bullish (NYSE:BLSH) CEO Thomas Farley Sells 80,000 Shares

Bullish (NYSE:BLSH) CEO Thomas Farley sold 80,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $43.95, for a total transaction of $3,516,000.00. Following the sale, the chief executive officer directly owned 80,000 shares in the company, valued at $3,516,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Bullish Stock Performance

Shares of NYSE BLSH traded down $0.94 during midday trading on Wednesday, hitting $41.86. The company’s stock had a trading volume of 899,141 shares, compared to its average volume of 1,663,376. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.69 and a current ratio of 29.28. Bullish has a 1-year low of $24.79 and a 1-year high of $118.00. The firm’s fifty day moving average price is $38.64 and its 200-day moving average price is $39.39. The firm has a market cap of $6.31 billion and a P/E ratio of 418.59.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. ARK Investment Management LLC bought a new stake in shares of Bullish during the third quarter valued at about $163,904,000. Massachusetts Financial Services Co. MA bought a new position in Bullish in the 3rd quarter valued at about $92,824,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Bullish in the 3rd quarter valued at about $91,782,000. Amova Asset Management Americas Inc. acquired a new position in Bullish during the 3rd quarter valued at about $91,431,000. Finally, Invesco Ltd. acquired a new position in Bullish during the 3rd quarter valued at about $74,658,000.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bullish in a report on Friday, March 27th. Citigroup lowered their price objective on Bullish from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Rosenblatt Securities increased their target price on Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Bullish from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $52.42.

Key Stories Impacting Bullish

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Rosenblatt Securities raised its price target on Bullish from $39 to $45, signaling modest upside from current levels even though the firm kept a neutral rating. Benzinga
• Neutral Sentiment: Bullish is set to report first-quarter earnings before Thursday’s open, and investors are watching whether softer crypto trading volumes will weigh on revenue and profitability. Benzinga
• Neutral Sentiment: News that Bullish plans to acquire Equiniti in a $4.2 billion transaction may matter for longer-term growth, but the market is still likely waiting for more details on how the deal will affect earnings, leverage, and integration risk. Article

About Bullish

Bullish (NYSE: BLSH) is a company that develops and operates digital asset market infrastructure, including a cryptocurrency trading platform and related technology services. The firm’s stated activities focus on providing exchange services, market structure and trading technology designed to support the listing, execution and clearing of digital assets. Bullish positions itself as a bridge between traditional capital markets practices and the evolving cryptocurrency ecosystem.

The business was announced in connection with Block.one, the software developer known for its work on the EOS blockchain, and was formed with the intent of creating a regulated, institutional-grade marketplace for digital assets.