Vident Advisory LLC Sells 51,186 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Vident Advisory LLC decreased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 86.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,769 shares of the company's stock after selling 51,186 shares during the quarter. Vident Advisory LLC's holdings in Alkami Technology were worth $285,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of Alkami Technology by 108.2% during the third quarter. Barclays PLC now owns 95,391 shares of the company's stock valued at $3,009,000 after acquiring an additional 49,580 shares in the last quarter. Blue Trust Inc. grew its position in Alkami Technology by 162.6% during the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after purchasing an additional 1,974 shares during the last quarter. Hodges Capital Management Inc. increased its stake in Alkami Technology by 1.6% during the 4th quarter. Hodges Capital Management Inc. now owns 211,570 shares of the company's stock valued at $7,760,000 after purchasing an additional 3,337 shares in the last quarter. Calamos Advisors LLC purchased a new position in Alkami Technology in the fourth quarter worth about $2,269,000. Finally, Entropy Technologies LP bought a new position in shares of Alkami Technology in the fourth quarter worth approximately $341,000. 54.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALKT. The Goldman Sachs Group reduced their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Lake Street Capital reduced their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a research report on Thursday, May 1st. Needham & Company LLC dropped their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Alkami Technology Stock Performance

ALKT stock traded down $0.25 during trading on Monday, reaching $28.39. The stock had a trading volume of 1,072,559 shares, compared to its average volume of 858,950. The firm has a market cap of $2.92 billion, a PE ratio of -60.40 and a beta of 0.56. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock's 50 day moving average is $27.03 and its two-hundred day moving average is $31.81. Alkami Technology, Inc. has a 52 week low of $21.70 and a 52 week high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its quarterly 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 business had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. As a group, equities analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joseph P. Payne acquired 8,200 shares of Alkami Technology stock in a transaction dated Thursday, May 15th. The stock was purchased at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the purchase, the director now directly owns 21,128 shares of the company's stock, valued at approximately $643,558.88. This trade represents a 63.43% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 18.10% of the stock is currently owned by insiders.

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.