Alkami Technology, Inc. (NASDAQ:ALKT) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 21.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 652,106 shares of the company's stock after buying an additional 116,170 shares during the period. Northern Trust Corp owned approximately 0.65% of Alkami Technology worth $23,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALKT. Barclays PLC boosted its stake in shares of Alkami Technology by 108.2% in the third quarter. Barclays PLC now owns 95,391 shares of the company's stock worth $3,009,000 after acquiring an additional 49,580 shares during the period. JPMorgan Chase & Co. increased its stake in Alkami Technology by 474.5% during the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock worth $11,971,000 after acquiring an additional 313,478 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Alkami Technology by 10.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock valued at $247,000 after purchasing an additional 615 shares during the last quarter. Dakota Wealth Management bought a new position in shares of Alkami Technology during the 4th quarter valued at approximately $518,000. Finally, Blue Trust Inc. lifted its position in Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after buying an additional 1,974 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Insider Activity

In other news, Director Joseph P. Payne acquired 8,200 shares of the company's stock in a transaction that occurred on 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 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 acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm'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 $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares of the company's stock, valued at approximately $7,432,325.64. This represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a research note on Thursday, March 13th. Needham & Company LLC lowered their target price on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. 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 note on Monday, March 3rd. Lake Street Capital decreased their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, JMP Securities restated a "market outperform" rating and set a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Alkami Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.88.

Alkami Technology Trading Up 1.3%

Shares of NASDAQ:ALKT traded up $0.40 during mid-day trading on Friday, reaching $30.89. 805,184 shares of the company were exchanged, compared to its average volume of 850,332. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -65.72 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29. The firm's 50-day simple moving average is $26.18 and its 200 day simple moving average is $32.57.

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 firm had revenue of $89.66 million during the quarter, compared to analysts' expectations of $89.63 million. Equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current year.

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.