First Trust Advisors LP Lowers Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

First Trust Advisors LP reduced its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 17.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 140,685 shares of the company's stock after selling 29,576 shares during the period. First Trust Advisors LP owned approximately 0.14% of Alkami Technology worth $5,160,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ALKT. JPMorgan Chase & Co. lifted its stake in shares of Alkami Technology by 474.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock valued at $11,971,000 after purchasing an additional 313,478 shares during the period. Diversified Trust Co purchased a new stake in shares of Alkami Technology during the 4th quarter worth about $595,000. Principal Financial Group Inc. acquired a new stake in shares of Alkami Technology during the 3rd quarter valued at about $875,000. Bank of New York Mellon Corp increased its stake in shares of Alkami Technology by 86.8% in the 4th quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock valued at $10,595,000 after purchasing an additional 134,198 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Alkami Technology by 16.9% in the 4th quarter. Rhumbline Advisers now owns 75,352 shares of the company's stock worth $2,764,000 after purchasing an additional 10,891 shares during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value 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 trade represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred 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 approximately $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.10% of the stock is currently owned by company insiders.

Alkami Technology Price Performance

Shares of ALKT stock traded up $1.10 during trading hours on Monday, reaching $28.09. The company had a trading volume of 825,771 shares, compared to its average volume of 1,152,948. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-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 company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -59.70 and a beta of 0.56. The stock has a fifty day moving average of $26.00 and a 200-day moving average of $33.03.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced 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). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. On average, equities analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays cut their price objective on 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. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective on the stock in a report on Thursday, March 13th. JMP Securities restated a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday. Lake Street Capital lowered their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Needham & Company LLC decreased their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.88.

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.