Voya Investment Management LLC Decreases Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Voya Investment Management LLC lowered its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 75.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,742 shares of the company's stock after selling 73,968 shares during the quarter. Voya Investment Management LLC's holdings in Alkami Technology were worth $871,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC purchased a new position in Alkami Technology during the fourth quarter worth about $34,000. Blue Trust Inc. raised its stake in shares of Alkami Technology by 162.6% during the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after buying an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Alkami Technology by 73.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock valued at $148,000 after buying an additional 1,710 shares during the period. Bank of Montreal Can acquired a new position in Alkami Technology during the fourth quarter worth $203,000. Finally, Summit Investment Advisors Inc. raised its position in Alkami Technology by 28.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock worth $204,000 after acquiring an additional 1,238 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALKT. Lake Street Capital lowered their price target 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. JMP Securities reiterated a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. Barclays lowered their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Alkami Technology Trading Down 0.1 %

NASDAQ ALKT traded down $0.03 during mid-day trading on Friday, reaching $29.41. 771,167 shares of the stock were exchanged, compared to its average volume of 839,078. The stock has a market capitalization of $3.03 billion, a PE ratio of -62.57 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, Inc. has a 1-year low of $21.70 and a 1-year high of $42.29. The business's fifty day simple moving average is $25.89 and its 200 day simple moving average is $32.78.

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

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was 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 $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction dated 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 transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at $13,703,354.20. This represents a 3.72 % 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 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.