Lazard Asset Management LLC Buys 19,916 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Lazard Asset Management LLC increased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 46.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,505 shares of the company's stock after buying an additional 19,916 shares during the period. Lazard Asset Management LLC owned about 0.06% of Alkami Technology worth $2,292,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in 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 worth $10,595,000 after buying an additional 134,198 shares during the last quarter. Rhumbline Advisers increased its holdings in Alkami Technology by 16.9% during the fourth quarter. Rhumbline Advisers now owns 75,352 shares of the company's stock worth $2,764,000 after buying an additional 10,891 shares during the last quarter. Geode Capital Management LLC increased its holdings in Alkami Technology by 15.8% during the fourth quarter. Geode Capital Management LLC now owns 1,426,038 shares of the company's stock worth $52,320,000 after buying an additional 194,051 shares during the last quarter. Vanguard Group Inc. increased its holdings in Alkami Technology by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after buying an additional 843,129 shares during the last quarter. Finally, Dakota Wealth Management purchased a new stake in Alkami Technology during the fourth quarter worth about $518,000. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Price Performance

Shares of ALKT stock traded down $0.19 during trading hours on Friday, reaching $29.02. The stock had a trading volume of 623,570 shares, compared to its average volume of 851,480. The stock's fifty day simple moving average is $26.80 and its 200 day simple moving average is $32.26. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The firm has a market capitalization of $2.99 billion, a PE ratio of -61.74 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The business had revenue of $89.66 million during the quarter, compared to the consensus estimate 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 research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Alkami Technology

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

Wall Street Analyst Weigh In

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

Alkami Technology Company 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.