Nuveen Asset Management LLC Boosts Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Nuveen Asset Management LLC grew its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 437,521 shares of the company's stock after buying an additional 40,106 shares during the quarter. Nuveen Asset Management LLC owned 0.44% of Alkami Technology worth $16,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALKT. Alliancebernstein L.P. lifted its position in shares of Alkami Technology by 5,747.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after purchasing an additional 2,661,027 shares in the last quarter. Champlain Investment Partners LLC bought a new position in shares of Alkami Technology during the fourth quarter valued at about $57,772,000. Invesco Ltd. lifted its position in shares of Alkami Technology by 353.1% during the fourth quarter. Invesco Ltd. now owns 1,456,136 shares of the company's stock valued at $53,411,000 after purchasing an additional 1,134,746 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alkami Technology by 278.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company's stock valued at $52,649,000 after purchasing an additional 1,055,828 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Alkami Technology by 12.8% during the fourth 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 in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALKT. Needham & Company LLC dropped 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. Stephens raised 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 research report on Thursday, March 13th. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. Lake Street Capital lowered their price objective on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.88.

Alkami Technology Stock Performance

Shares of ALKT traded down $0.35 during trading hours on Wednesday, hitting $28.89. The company's stock had a trading volume of 785,550 shares, compared to its average volume of 852,527. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -61.47 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 business has a 50 day simple moving average of $26.92 and a two-hundred day simple moving average of $32.09. 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 posted its earnings results 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). The business had revenue of $89.66 million during the quarter, compared to analysts' expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. On average, equities analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, Director Joseph P. Payne purchased 8,200 shares of the business's stock in a transaction on Thursday, May 15th. The stock was purchased at an average cost of $30.46 per share, with a total value of $249,772.00. Following the acquisition, the director now directly owns 21,128 shares in the company, valued at approximately $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.10% of the company's stock.

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.