Bank of America Corp DE grew its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,132,794 shares of the company's stock after purchasing an additional 61,501 shares during the period. Bank of America Corp DE owned about 1.06% of Alkami Technology worth $17,751,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC grew its position in Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock worth $29,000 after acquiring an additional 842 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock valued at $34,000 after buying an additional 692 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock valued at $35,000 after buying an additional 916 shares during the last quarter. Global Retirement Partners LLC bought a new position in Alkami Technology in the 4th quarter valued at approximately $37,000. Finally, CWM LLC boosted its position in Alkami Technology by 97.6% during the 4th quarter. CWM LLC now owns 1,942 shares of the company's stock worth $45,000 after buying an additional 959 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Citizens Jmp reduced their price objective on shares of Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. decreased their price objective on Alkami Technology from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, June 22nd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $22.20.
View Our Latest Research Report on ALKT
Alkami Technology Trading Down 0.6%
NASDAQ:ALKT opened at $20.02 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. Alkami Technology, Inc. has a one year low of $13.98 and a one year high of $26.89. The company has a market cap of $2.14 billion, a PE ratio of -47.67 and a beta of 0.58. The firm has a 50-day moving average of $17.73 and a 200-day moving average of $17.15.
Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.23). The company had revenue of $129.84 million for the quarter, compared to analysts' expectations of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The firm's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) EPS. As a group, equities research analysts expect that Alkami Technology, Inc. will post 0.14 EPS for the current fiscal year.
About Alkami Technology
(
Free Report)
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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