Bank of America Corp DE Buys 15,293 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Bank of America Corp DE increased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 229,629 shares of the company's stock after acquiring an additional 15,293 shares during the quarter. Bank of America Corp DE owned about 0.23% of Alkami Technology worth $8,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology during the fourth quarter worth $34,000. Quarry LP acquired a new stake in Alkami Technology during the fourth quarter worth $61,000. Blue Trust Inc. boosted its stake in Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after buying an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Alkami Technology by 73.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock worth $148,000 after buying an additional 1,710 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Alkami Technology during the fourth quarter worth $203,000. Institutional investors own 54.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALKT shares. Lake Street Capital decreased their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a research note on Thursday, March 13th. Barclays decreased their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC decreased 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 note on Thursday, May 1st. Finally, The Goldman Sachs Group decreased their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Alkami Technology presently has a consensus rating of "Moderate Buy" and an average target price of $39.88.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT traded down $0.21 on Thursday, hitting $28.68. The stock had a trading volume of 690,153 shares, compared to its average volume of 853,595. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. 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 firm's 50 day moving average price is $26.98 and its 200-day moving average price is $32.00. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -61.02 and a beta of 0.56.

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 the consensus estimate of $0.08 by ($0.13). The firm had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. On average, equities research analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72% decrease in their position. The disclosure for this sale can be found here. 18.10% of the stock is owned by corporate insiders.

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.