Nuveen Asset Management LLC Grows Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology in the fourth quarter valued at approximately $34,000. Quarry LP purchased a new position in shares of Alkami Technology during the 4th quarter valued at approximately $61,000. Blue Trust Inc. grew its stake in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after acquiring an additional 1,974 shares during the period. Tower Research Capital LLC TRC increased its holdings in Alkami Technology by 73.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock worth $148,000 after acquiring an additional 1,710 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Alkami Technology in the 4th quarter worth $203,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Trading Down 0.3%

Shares of ALKT stock traded down $0.09 on Friday, hitting $28.60. 90,783 shares of the stock traded hands, compared to its average volume of 850,601. The firm's 50-day moving average price is $26.98 and its two-hundred day moving average price is $32.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The stock has a market capitalization of $2.95 billion, a PE ratio of -60.88 and a beta of 0.56. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The firm had revenue of $89.66 million for 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%. As a group, analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, Director Joseph P. Payne bought 8,200 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the acquisition, the director now directly owns 21,128 shares of the company's stock, valued at $643,558.88. The trade was a 63.43% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ALKT. Barclays cut their target price on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Lake Street Capital reduced their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Needham & Company LLC lowered their price target on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $39.88.

About Alkami Technology

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.