Ark Invest Increases Stake in Bullish Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: Benzinga
- Increased Holdings: Ark Invest acquired shares of Bullish through its ETFs on Tuesday, with the ARK Innovation ETF purchasing 80,124 shares and the ARK Fintech Innovation ETF acquiring 5,648 shares, totaling approximately $2.98 million, reflecting continued confidence in the digital asset platform.
- Earnings Beat: Bullish reported impressive third-quarter earnings in November, achieving $76.5 million in revenue, surpassing analyst expectations of $71.2 million, despite a decline in digital asset sales from the previous year, indicating strong operational momentum.
- Portfolio Weight: Ark's stake in Bullish is valued at $153.1 million, representing 1.14% of its portfolio, showcasing Ark's ongoing commitment to investing in emerging technologies and digital assets.
- Other Trading Activities: On the same day, Ark sold 36,958 shares of Twist Bioscience and 13,677 shares of Kratos Defense, demonstrating flexibility and strategic adjustments in its investment management.
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Analyst Views on BLSH
Wall Street analysts forecast BLSH stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BLSH is 54.00 USD with a low forecast of 45.00 USD and a high forecast of 67.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 34.330
Low
45.00
Averages
54.00
High
67.00
Current: 34.330
Low
45.00
Averages
54.00
High
67.00
About BLSH
Bullish is an institutionally focused global digital asset platform focused on providing market infrastructure and information services. The Company is focused on providing products and services that are designed to help institutions grow their businesses, empower individual investors, and drive the adoption of stablecoins, digital assets, and blockchain technology. It operates two primary business lines: media and events. Its media business delivers news and information on the digital assets industry. Its media business operates through CoinDesk.com. Its events business gathers the global digital asset, blockchain, and Web3 communities at annual events, such as Consensus. It provides trusted insights, authoritative news, data, indices and transparent analysis to the digital assets industry while facilitating partnerships, investment opportunities, and community engagement through its flagship Consensus conference. The Company offers its services under the Bullish and CoinDesk brands.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ark Invest Increases Stake in Bullish Shares
- Increased Holdings: Ark Invest acquired shares of Bullish through its ETFs on Tuesday, with the ARK Innovation ETF purchasing 80,124 shares and the ARK Fintech Innovation ETF acquiring 5,648 shares, totaling approximately $2.98 million, reflecting continued confidence in the digital asset platform.
- Earnings Beat: Bullish reported impressive third-quarter earnings in November, achieving $76.5 million in revenue, surpassing analyst expectations of $71.2 million, despite a decline in digital asset sales from the previous year, indicating strong operational momentum.
- Portfolio Weight: Ark's stake in Bullish is valued at $153.1 million, representing 1.14% of its portfolio, showcasing Ark's ongoing commitment to investing in emerging technologies and digital assets.
- Other Trading Activities: On the same day, Ark sold 36,958 shares of Twist Bioscience and 13,677 shares of Kratos Defense, demonstrating flexibility and strategic adjustments in its investment management.
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