Jacobs Levy Equity Management Inc. Sells 22,827 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Jacobs Levy Equity Management Inc. decreased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 419,892 shares of the company's stock after selling 22,827 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.42% of Alkami Technology worth $15,402,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock valued at $273,187,000 after buying an additional 843,129 shares during the period. Alliancebernstein L.P. grew its stake in shares of Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock worth $99,305,000 after purchasing an additional 2,661,027 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Alkami Technology by 16.7% in the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after purchasing an additional 299,728 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Alkami Technology by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock worth $66,457,000 after purchasing an additional 6,970 shares during the last quarter. Finally, Wasatch Advisors LP grew its stake in shares of Alkami Technology by 16.6% in the 4th quarter. Wasatch Advisors LP now owns 1,586,789 shares of the company's stock worth $58,203,000 after purchasing an additional 225,992 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Trading Up 1.3%

Shares of Alkami Technology stock traded up $0.40 during trading on Friday, hitting $30.89. The stock had a trading volume of 805,184 shares, compared to its average volume of 850,589. The stock has a 50 day simple moving average of $26.33 and a 200 day simple moving average of $32.44. The company has a market capitalization of $3.18 billion, a PE ratio of -65.72 and a beta of 0.56. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data 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 net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. On average, research analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 17,409 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 price of $30.46 per share, with a total value of $249,772.00. Following the completion of the purchase, the director now directly owns 21,128 shares of the company's stock, valued at $643,558.88. The trade was a 63.43% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 18.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALKT shares. 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 research note on Thursday, March 13th. Lake Street Capital lowered their price objective 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. Barclays lowered their price objective 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. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their target price on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.