Bullish $BLSH Shares Sold by Rovida Investment Management Ltd

Rovida Investment Management Ltd lessened its stake in Bullish (NYSE:BLSH) by 24.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 200,000 shares of the company’s stock after selling 64,066 shares during the quarter. Bullish comprises about 1.0% of Rovida Investment Management Ltd’s holdings, making the stock its 13th largest holding. Rovida Investment Management Ltd owned 0.14% of Bullish worth $7,566,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ARK Investment Management LLC acquired a new stake in shares of Bullish in the third quarter valued at approximately $163,904,000. Sumitomo Mitsui Trust Group Inc. grew its position in Bullish by 75.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,529,313 shares of the company’s stock worth $95,785,000 after acquiring an additional 1,086,420 shares during the period. Massachusetts Financial Services Co. MA grew its position in Bullish by 7.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,563,985 shares of the company’s stock worth $59,228,000 after acquiring an additional 104,724 shares during the period. Amova Asset Management Americas Inc. purchased a new position in Bullish in the third quarter worth approximately $91,431,000. Finally, UBS Group AG grew its position in Bullish by 486.1% in the fourth quarter. UBS Group AG now owns 1,309,248 shares of the company’s stock worth $49,581,000 after acquiring an additional 1,085,846 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a research report on Friday, March 27th. JPMorgan Chase & Co. lowered their price objective on Bullish from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. Wall Street Zen upgraded Bullish from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $61.00 price objective on shares of Bullish in a research report on Friday, May 15th. Finally, Rosenblatt Securities increased their price objective on Bullish from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.92.

Insider Transactions at Bullish

In related news, CEO Thomas W. Farley sold 80,000 shares of Bullish 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 transaction, the chief executive officer directly owned 80,000 shares in the company, valued at approximately $3,516,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Bullish Trading Down 0.2%

BLSH opened at $34.85 on Monday. Bullish has a 52 week low of $24.79 and a 52 week high of $118.00. The business has a fifty day simple moving average of $38.58 and a 200-day simple moving average of $38.12. The firm has a market cap of $5.26 billion and a P/E ratio of -5.32. The company has a quick ratio of 25.23, a current ratio of 26.42 and a debt-to-equity ratio of 0.18.

Bullish (NYSE:BLSH) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The firm had revenue of $92.83 million for the quarter. Bullish had a positive return on equity of 1.82% and a negative net margin of 314.40%.The firm’s revenue for the quarter was up 48.8% compared to the same quarter last year. On average, equities analysts expect that Bullish will post 0.72 earnings per share for the current year.

Bullish Company Profile

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.