Capital International Investors Trims Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Capital International Investors cut its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 18.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,815,499 shares of the company's stock after selling 864,408 shares during the quarter. Capital International Investors owned 3.80% of Alkami Technology worth $139,953,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp acquired a new stake in shares of Alkami Technology during the 3rd quarter worth approximately $223,000. State Street Corp boosted its stake in shares of Alkami Technology by 5.1% in the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company's stock valued at $34,328,000 after purchasing an additional 52,699 shares in the last quarter. Barclays PLC increased its holdings in shares of Alkami Technology by 108.2% during the third quarter. Barclays PLC now owns 95,391 shares of the company's stock worth $3,009,000 after buying an additional 49,580 shares in the last quarter. Geode Capital Management LLC increased its holdings in Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock worth $38,865,000 after purchasing an additional 173,394 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Alkami Technology by 4.4% during the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company's stock valued at $61,364,000 after purchasing an additional 75,469 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 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 $132,526.78. Following the sale, 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. Company insiders own 18.10% of the company's stock.

Alkami Technology Stock Up 1.1 %

ALKT traded up $0.31 during midday trading on Friday, hitting $26.84. The company had a trading volume of 162,598 shares, compared to its average volume of 803,388. The stock's 50 day moving average price is $26.59 and its 200 day moving average price is $33.33. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -57.06 and a beta of 0.56. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 52 week low of $21.70 and a 52 week high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued 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 the consensus estimate of $89.63 million. On average, research analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALKT. Barclays decreased their price objective on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group reduced their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.38.

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.