Renaissance Technologies LLC Acquires 100,500 Shares of Bullish $BLSH

Renaissance Technologies LLC grew its stake in shares of Bullish (NYSE:BLSH) by 178.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,833 shares of the company’s stock after buying an additional 100,500 shares during the period. Renaissance Technologies LLC owned 0.10% of Bullish worth $5,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Stephens Investment Management Group LLC increased its holdings in Bullish by 99.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 850,248 shares of the company’s stock valued at $32,199,000 after acquiring an additional 424,523 shares during the last quarter. Harvest Portfolios Group Inc. purchased a new stake in Bullish in the 4th quarter worth $1,990,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Bullish by 51.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,833,886 shares of the company’s stock valued at $136,985,000 after purchasing an additional 1,304,573 shares during the last quarter. Norges Bank purchased a new position in shares of Bullish during the fourth quarter valued at about $17,042,000. Finally, Boundless Plain Holdings Ltd purchased a new stake in shares of Bullish in the fourth quarter worth about $5,089,000.

Insiders Place Their Bets

In related news, CEO Thomas W. Farley sold 80,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $43.95, for a total value of $3,516,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

BLSH has been the subject of several research analyst reports. Zacks Research cut Bullish from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a report on Monday. Rosenblatt Securities raised their target price on shares of Bullish from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Cantor Fitzgerald boosted their price target on shares of Bullish from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bullish from $43.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Bullish currently has an average rating of “Hold” and a consensus target price of $50.67.

Bullish Trading Down 0.1%

Shares of NYSE BLSH opened at $23.77 on Thursday. Bullish has a 1-year low of $20.55 and a 1-year high of $118.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 26.42 and a quick ratio of 25.23. The business’s 50 day moving average is $25.39 and its two-hundred day moving average is $32.47. The stock has a market capitalization of $3.59 billion and a P/E ratio of -3.63.

Bullish (NYSE:BLSH) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). The company had revenue of $92.83 million during the quarter. Bullish had a negative net margin of 314.40% and a positive return on equity of 1.82%. Bullish’s revenue for the quarter was up 48.8% compared to the same quarter last year. As a group, research analysts expect that Bullish will post 0.54 EPS for the current year.

Bullish News Roundup

Here are the key news stories impacting Bullish this week:

• Positive Sentiment: Expanded crypto utility through shareholder distributions. Equiniti and Bullish are supporting Elemental Royalty’s dividend distribution, which gives eligible shareholders the option to receive Tether Gold (XAU₮). The arrangement highlights Bullish’s role in enabling blockchain-based financial services and could strengthen its visibility among corporate and institutional users, although the immediate revenue impact was not disclosed. Equiniti and Bullish Support Elemental Royalty Dividend Distribution Offering a Tether Gold Payment Option
• Positive Sentiment: Favorable sentiment toward crypto-related private markets. Growing trading activity in pre-IPO companies is being viewed as evidence of expanding crypto-based financial infrastructure. This is an industry-level tailwind for Bullish’s digital-asset exchange and market-services businesses, though the article does not identify a specific new contract or financial benefit for BLSH. Trading in Pre-IPO Companies Is Taking Off in Popularity
• Neutral Sentiment: Most other reports are unrelated to Bullish. Articles covering software stocks, retail downgrades, ETFs, and analyst calls on companies such as Micron and Uber do not provide a direct read-through on BLSH.
• Negative Sentiment: Underlying valuation and profitability concerns remain. Bullish recently missed quarterly EPS expectations, continues to report a deeply negative net margin, and trades below its 50-day and 200-day moving averages. These factors may be offsetting the limited positive impact from the latest partnership news.

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.