15,701 Shares in Bullish $BLSH Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. purchased a new stake in Bullish (NYSE:BLSH) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,701 shares of the company’s stock, valued at approximately $999,000.

Other large investors have also recently bought and sold shares of the company. 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. acquired a new stake in shares of Bullish during the 3rd quarter worth approximately $91,782,000. Stephens Investment Management Group LLC bought a new position in Bullish in the third quarter valued at approximately $27,080,000. Exchange Traded Concepts LLC acquired a new position in Bullish during the third quarter valued at approximately $10,423,000. Finally, Principal Financial Group Inc. bought a new stake in Bullish during the third quarter worth $7,034,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Bullish in a research note on Monday, December 29th. Citigroup decreased their target price on Bullish from $77.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Wall Street Zen raised Bullish from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Rosenblatt Securities reduced their price target on shares of Bullish from $52.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Bullish from a “hold” rating to a “buy” rating and decreased their price target for the company from $52.00 to $51.00 in a report on Wednesday, November 19th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.08.

Bullish Stock Performance

Shares of BLSH stock opened at $33.27 on Wednesday. The business’s 50-day moving average price is $35.05 and its 200-day moving average price is $46.77. Bullish has a 12 month low of $24.79 and a 12 month high of $118.00. The firm has a market capitalization of $4.86 billion and a price-to-earnings ratio of 332.72. The company has a current ratio of 29.28, a quick ratio of 27.69 and a debt-to-equity ratio of 0.15.

Bullish (NYSE:BLSH) last released its quarterly earnings data on Thursday, February 5th. The company reported ($3.73) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($3.89). Bullish had a negative net margin of 0.95% and a negative return on equity of 10.58%. The firm had revenue of $92.50 million during the quarter. During the same period in the prior year, the company earned $1.37 earnings per share. Bullish’s revenue for the quarter was up 67.6% compared to the same quarter last 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.