Tidal Investments LLC acquired a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,296 shares of the company's stock, valued at approximately $524,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. grew its holdings in shares of Alkami Technology by 5,747.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after acquiring an additional 2,661,027 shares in the last quarter. Champlain Investment Partners LLC bought a new position in shares of Alkami Technology in the fourth quarter valued at approximately $57,772,000. Invesco Ltd. grew its holdings in shares of Alkami Technology by 353.1% in the fourth quarter. Invesco Ltd. now owns 1,456,136 shares of the company's stock valued at $53,411,000 after acquiring an additional 1,134,746 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alkami Technology by 278.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company's stock valued at $52,649,000 after acquiring an additional 1,055,828 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Alkami Technology by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock valued at $273,187,000 after acquiring an additional 843,129 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Alkami Technology
In related news, Director Joseph P. Payne purchased 8,200 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director now directly owns 21,128 shares of the company's stock, valued at approximately $643,558.88. The trade was a 63.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 18.10% of the company's stock.
Alkami Technology Stock Performance
NASDAQ ALKT traded down $0.25 on Monday, hitting $28.39. 1,072,559 shares of the stock traded hands, compared to its average volume of 858,950. The business's fifty day moving average is $27.03 and its two-hundred day moving average is $31.81. 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 $2.92 billion, a price-to-earnings ratio of -60.40 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.
Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly 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). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. As a group, equities analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Needham & Company LLC reduced their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a report on Thursday, March 13th. 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 report on Monday, March 3rd. Finally, Barclays reduced their price objective on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.88.
Check Out Our Latest Report on Alkami Technology
Alkami Technology Company Profile
(
Free Report)
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.
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