Bamco Inc. NY Sells 112,454 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Bamco Inc. NY trimmed its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 16.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 557,673 shares of the company's stock after selling 112,454 shares during the period. Bamco Inc. NY owned 0.55% of Alkami Technology worth $20,455,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Essex Investment Management Co. LLC acquired a new position in shares of Alkami Technology during the fourth quarter worth approximately $34,000. Quarry LP bought a new stake in Alkami Technology during the 4th quarter valued at $61,000. Blue Trust Inc. boosted its position in Alkami Technology by 162.6% during the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after acquiring an additional 1,974 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Alkami Technology by 73.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock worth $148,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Alkami Technology during the fourth quarter valued at $203,000. Institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Down 0.1 %

NASDAQ ALKT traded down $0.03 during trading on Friday, reaching $29.41. 771,167 shares of the company's stock were exchanged, compared to its average volume of 841,071. The company's fifty day simple moving average is $25.89 and its 200-day simple moving average is $32.74. 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 firm has a market capitalization of $3.03 billion, a PE ratio of -62.57 and a beta of 0.56. 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 released its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Sell-side analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 17,409 shares of the 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 transaction, the chief financial officer now owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm'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 in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ALKT shares. Barclays decreased 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 report on Monday, April 14th. JMP Securities reiterated a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a research note on Thursday, March 13th. The Goldman Sachs Group dropped their target price on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Needham & Company LLC decreased their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has an average rating of "Moderate Buy" and a consensus target price 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.