• The CEO now directly owns more than nine million shares of the company.
• Director Michael Alfred purchased 585,000 shares of the company at a value of $4.8 million.
• Following the purchase, Alfred indirectly owns about 625,000 shares of the company through Alpine Fox LP, an entity he controls.

Bakkt Holdings (BKKT) attracted significant investor attention on Tuesday after executives of the digital asset infrastructure builder purchased a significant amount of its shares in the open market.

At the time of writing, BKKT stock was up nearly 8% premarket.

According to the Securities and Exchange Commission filing late on Monday, chief executive officer Akshay Naheta bought 33,557 shares of the company at $10 apiece, worth $335,570 in the open market. The CEO now directly owns more than nine million shares of the company and remains the largest shareholder.

Per data from Fiscal AI, after Naheta, Intercontinental Exchange, the company’s largest backer, and asset manager BlackRock are Bakkt's top stockholders.

Director Michael Alfred Purchases Shares

Additionally, director Michael Alfred purchased 585,000 shares of the company worth $4.8 million. The transaction was executed in two block purchases: 365,000 shares at $8.34 per share and 220,000 shares at $8.20 per share.

Following the purchase, Alfred indirectly owns about 625,000 shares of the company through Alpine Fox LP, an entity he controls.

What Retail Thinks About BKKT

On Stocktwits, retail sentiment about BKKT turned ‘extremely bullish' from ‘bullish’ amid ‘extremely high’ message volumes over the last 24 hours.

One user noted that the CEO owning over 9 million shares signals a very high level of personal "skin in the game" as the company's head.

Another user expressed hopes the CEO will execute the turnaround, as he is heavily invested in the company.

BKKT stock has lost over 13% so far this year, and nearly 34% over the past 12 months, underperforming the S&P 500.

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