Algert Global LLC Reduces Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Algert Global LLC reduced its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 37.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,858 shares of the company's stock after selling 75,089 shares during the quarter. Algert Global LLC owned about 0.13% of Alkami Technology worth $4,690,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC increased its position in Alkami Technology by 108.2% during the 3rd quarter. Barclays PLC now owns 95,391 shares of the company's stock valued at $3,009,000 after purchasing an additional 49,580 shares during the period. Franklin Resources Inc. lifted its holdings in Alkami Technology by 4.4% in the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company's stock worth $61,364,000 after buying an additional 75,469 shares during the period. JPMorgan Chase & Co. boosted its position in Alkami Technology by 474.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock valued at $11,971,000 after acquiring an additional 313,478 shares in the last quarter. Diversified Trust Co bought a new stake in Alkami Technology during the 4th quarter valued at approximately $595,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock valued at $247,000 after purchasing an additional 615 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a research report on Thursday, May 1st. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. Needham & Company LLC decreased their price target on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Lake Street Capital decreased their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Barclays reduced their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.88.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares of the company's stock, valued at $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares of the company's stock, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.10% of the company's stock.

Alkami Technology Stock Performance

Shares of ALKT stock traded down $0.03 during trading hours on Friday, reaching $29.41. 771,167 shares of the company traded hands, compared to its average volume of 841,071. The firm has a 50-day moving average price of $25.89 and a 200 day moving average price of $32.74. The company has a market cap of $3.03 billion, a P/E ratio of -62.57 and a beta of 0.56. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The firm had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. As a group, sell-side analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

About Alkami Technology

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.