Ameriprise Financial Inc. Boosts Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Ameriprise Financial Inc. boosted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 37.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,208,179 shares of the company's stock after acquiring an additional 326,979 shares during the period. Ameriprise Financial Inc. owned 1.20% of Alkami Technology worth $44,316,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Essex Investment Management Co. LLC purchased a new stake in Alkami Technology during the 4th quarter valued at about $34,000. Quarry LP purchased a new position in shares of Alkami Technology in the fourth quarter worth $61,000. Blue Trust Inc. lifted its holdings in shares of Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after purchasing an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Alkami Technology by 73.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock worth $148,000 after buying an additional 1,710 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Alkami Technology in the 4th quarter worth approximately $203,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. 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 report on Monday, April 14th. Stephens upgraded 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. 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. The Goldman Sachs Group decreased their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Alkami Technology currently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Insiders Place Their Bets

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was 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 owns 244,404 shares of the company's stock, valued at $7,432,325.64. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. 18.10% of the stock is currently owned by company insiders.

Alkami Technology Price Performance

Shares of NASDAQ ALKT traded down $0.40 during mid-day trading on Wednesday, hitting $30.79. 987,123 shares of the company's stock traded hands, compared to its average volume of 846,681. The company has a market capitalization of $3.17 billion, a P/E ratio of -65.51 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The company's 50-day moving average is $25.98 and its two-hundred day moving average is $32.64. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. On average, equities analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS 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.