Alkami Technology, Inc. $ALKT Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group increased its stake in Alkami Technology by 5.7% in the fourth quarter, ending with 8.41 million shares worth about $194.1 million. That gives Vanguard an 8.01% ownership position in the company.
• Alkami reported a mixed quarterly result: revenue of $126.14 million beat estimates slightly and rose 28.9% year over year, but EPS of -$0.09 missed expectations by a wide margin. The company also posted negative net margin and return on equity.
• Analyst sentiment is cautious, with several firms cutting price targets and the stock carrying a consensus Hold rating. The average price target now sits at $22.80, above the recent share price of $17.97.

Vanguard Group Inc. grew its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,414,419 shares of the company's stock after acquiring an additional 456,275 shares during the quarter. Vanguard Group Inc. owned 8.01% of Alkami Technology worth $194,121,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock worth $35,000 after acquiring an additional 916 shares in the last quarter. First Horizon Corp acquired a new stake in Alkami Technology in the third quarter worth about $30,000. AlphaQuest LLC boosted its holdings in Alkami Technology by 54.5% in the third quarter. AlphaQuest LLC now owns 1,542 shares of the company's stock worth $38,000 after acquiring an additional 544 shares in the last quarter. CWM LLC raised its stake in shares of Alkami Technology by 97.6% in the fourth quarter. CWM LLC now owns 1,942 shares of the company's stock worth $45,000 after purchasing an additional 959 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock worth $64,000 after purchasing an additional 594 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Price Performance

Alkami Technology stock opened at $17.97 on Monday. Alkami Technology, Inc. has a 52 week low of $14.11 and a 52 week high of $31.66. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -38.23 and a beta of 0.54. The business's 50-day moving average price is $16.73 and its 200 day moving average price is $19.36. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company had revenue of $126.14 million during the quarter, compared to analysts' expectations of $125.22 million. During the same quarter in the prior year, the company posted $0.08 EPS. The company's revenue for the quarter was up 28.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 5,518 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total value of $93,254.20. Following the sale, the insider owned 216,233 shares in the company, valued at approximately $3,654,337.70. This represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph P. Payne acquired 5,500 shares of the stock in a transaction on Wednesday, March 11th. The stock was bought at an average price of $18.23 per share, for a total transaction of $100,265.00. Following the transaction, the director owned 26,628 shares in the company, valued at approximately $485,428.44. This represents a 26.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 5,418,058 shares of company stock worth $94,494,336 and have sold 13,739 shares worth $232,189. 17.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ALKT shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a report on Wednesday, January 21st. Needham & Company LLC decreased their target price on Alkami Technology from $32.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Citizens Jmp decreased their target price on Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating for the company in a report on Thursday, April 30th. Barclays decreased their target price on Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating for the company in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $22.80.

Alkami Technology Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company's platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami's platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.

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