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

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

Several other institutional investors and hedge funds also recently bought and sold shares of ALKT. JPMorgan Chase & Co. lifted its holdings in Alkami Technology by 474.5% in the third 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 during the last quarter. Diversified Trust Co purchased a new stake in Alkami Technology in the fourth quarter valued at $595,000. Bank of New York Mellon Corp lifted its stake in shares of Alkami Technology by 86.8% in the 4th quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock valued at $10,595,000 after purchasing an additional 134,198 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Alkami Technology by 16.9% during the 4th quarter. Rhumbline Advisers now owns 75,352 shares of the company's stock worth $2,764,000 after purchasing an additional 10,891 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Alkami Technology by 15.8% during the 4th quarter. Geode Capital Management LLC now owns 1,426,038 shares of the company's stock worth $52,320,000 after purchasing an additional 194,051 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alkami Technology

In other news, 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 sale, the chief financial officer now owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value 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. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.10% of the company's stock.

Alkami Technology Trading Up 2.6 %

ALKT opened at $27.68 on Tuesday. The business has a fifty day moving average price of $25.97 and a 200 day moving average price of $32.97. 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, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -58.89 and a beta of 0.56.

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 analysts' consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Sell-side analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALKT. Lake Street Capital dropped their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC cut their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group decreased their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. Finally, Barclays decreased their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology has an average rating of "Moderate Buy" and a consensus price target of $39.88.

Alkami Technology Company Profile

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.

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