Alkami Technology, Inc. $ALKT Stock Holdings Cut by Comerica Bank

Key Points

• Comerica Bank sharply cut its stake in Alkami Technology by 98% in the fourth quarter, selling more than 428,000 shares and leaving it with 8,561 shares worth about $198,000.
• Insider buying was significant, highlighted by a director’s purchase of 675,000 shares and another director’s buy of 5,500 shares, while insiders overall bought far more stock than they sold over the past 90 days.
• Alkami’s latest earnings missed expectations even as revenue rose 28.9% year over year; analysts now have a consensus Hold rating with an average price target of $22.80.

Comerica Bank reduced its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 98.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,561 shares of the company's stock after selling 428,186 shares during the quarter. Comerica Bank's holdings in Alkami Technology were worth $198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock valued at $35,000 after purchasing an additional 916 shares in the last quarter. First Horizon Corp bought a new position in Alkami Technology during the 3rd quarter valued at $30,000. AlphaQuest LLC boosted its stake in Alkami Technology by 54.5% during the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company's stock valued at $38,000 after purchasing an additional 544 shares in the last quarter. CWM LLC boosted its stake in Alkami Technology by 97.6% during the 4th quarter. CWM LLC now owns 1,942 shares of the company's stock valued at $45,000 after purchasing an additional 959 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Alkami Technology by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock valued at $64,000 after purchasing an additional 594 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $16.49 per share, for a total transaction of $11,130,750.00. Following the completion of the acquisition, the director owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. The trade was a 3.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph P. Payne bought 5,500 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were bought at an average price of $18.23 per share, for a total transaction of $100,265.00. Following the completion of the acquisition, the director owned 26,628 shares of the company's stock, valued at approximately $485,428.44. This represents a 26.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 7,393,058 shares of company stock worth $127,424,086 and sold 13,739 shares worth $232,189. 17.10% of the stock is owned by corporate insiders.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $16.61 on Friday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a 1 year low of $14.11 and a 1 year high of $31.18. The business has a fifty day simple moving average of $16.79 and a 200 day simple moving average of $19.12. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -35.34 and a beta of 0.54.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) earnings per share (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 firm had revenue of $126.14 million for the quarter, compared to analysts' expectations of $125.22 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. Alkami Technology's revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts predict that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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