ArrowMark Colorado Holdings LLC Has $11.91 Million Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

ArrowMark Colorado Holdings LLC lessened its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 37.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 324,610 shares of the company's stock after selling 196,297 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.32% of Alkami Technology worth $11,907,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Alkami Technology by 474.5% in 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 during the period. Diversified Trust Co acquired a new position in Alkami Technology during the 4th quarter worth about $595,000. Principal Financial Group Inc. purchased a new position in Alkami Technology during the 3rd quarter valued at about $875,000. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 134,198 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Alkami Technology by 16.9% during the fourth quarter. Rhumbline Advisers now owns 75,352 shares of the company's stock worth $2,764,000 after purchasing an additional 10,891 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALKT. Needham & Company LLC dropped their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Barclays reduced their target price 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. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. The Goldman Sachs Group decreased their target price on 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, Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Alkami Technology has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Alkami Technology Trading Up 0.1 %

Shares of ALKT traded up $0.04 during mid-day trading on Friday, reaching $29.48. The company had a trading volume of 359,054 shares, compared to its average volume of 835,818. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -62.72 and a beta of 0.56. The firm has a fifty day simple moving average of $25.88 and a 200-day simple moving average of $32.84. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (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 firm had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. On average, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, CFO W Bryan Hill sold 17,409 shares of the company'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 $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares in the company, valued at $13,703,354.20. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at approximately $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. Company insiders own 18.10% of the company's stock.

Alkami Technology 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.