Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 25.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 424,238 shares of the company's stock after selling 142,319 shares during the period. Millennium Management LLC owned about 0.42% of Alkami Technology worth $15,561,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of Alkami Technology by 86.8% during the fourth 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 during the period. Rhumbline Advisers boosted its stake in shares of Alkami Technology by 16.9% during the 4th quarter. Rhumbline Advisers now owns 75,352 shares of the company's stock valued at $2,764,000 after buying an additional 10,891 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alkami Technology by 15.8% during the 4th quarter. Geode Capital Management LLC now owns 1,426,038 shares of the company's stock valued at $52,320,000 after buying an additional 194,051 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alkami Technology by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock valued at $273,187,000 after purchasing an additional 843,129 shares during the last quarter. Finally, Dakota Wealth Management acquired a new stake in shares of Alkami Technology in the 4th quarter valued at $518,000. Institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $29.21 on Friday. The stock has a market cap of $3.01 billion, a P/E ratio of -62.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The company has a fifty day moving average price of $26.73 and a two-hundred day moving average price of $32.32. Alkami Technology, Inc. has a one year low of $21.70 and a one year 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) 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 the consensus estimate of $89.63 million. As a group, equities analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the business'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 transaction of $132,526.78. Following the sale, the insider now directly owns 244,404 shares of the company's stock, valued at $7,432,325.64. The trade was a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph P. Payne acquired 8,200 shares of Alkami Technology stock in a transaction dated Thursday, May 15th. The stock was purchased at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the purchase, the director now owns 21,128 shares in the company, valued at approximately $643,558.88. The trade was a 63.43% increase in their position. The disclosure for this purchase can be found here. 18.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALKT. Barclays dropped their target price on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Lake Street Capital dropped their price objective on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group dropped their price objective 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. Stephens upgraded 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 report on Thursday, March 13th. Finally, Needham & Company LLC dropped their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology currently has a consensus rating of "Moderate Buy" and an average target price of $39.88.

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.

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