Blue Trust Inc. Raises Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Blue Trust Inc. raised its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 507.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,214 shares of the company’s stock after acquiring an additional 1,014 shares during the quarter. Blue Trust Inc.’s holdings in Alkami Technology were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ALKT. nVerses Capital LLC lifted its position in Alkami Technology by 16.1% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares during the period. Park Place Capital Corp bought a new stake in Alkami Technology during the 3rd quarter valued at about $28,000. Swiss National Bank lifted its holdings in Alkami Technology by 1.3% during the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after buying an additional 1,100 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Alkami Technology in the 2nd quarter valued at about $40,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Alkami Technology by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after purchasing an additional 1,460 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 55,046 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total value of $1,716,884.74. Following the sale, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at approximately $14,703,059.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Stephen Bohanon sold 35,893 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the completion of the sale, the insider now owns 403,786 shares of the company’s stock, valued at approximately $13,567,209.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 55,046 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the sale, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at approximately $14,703,059.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,648,416 shares of company stock valued at $113,920,758. Company insiders own 38.00% of the company’s stock.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $37.60 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -80.00 and a beta of 0.46. Alkami Technology, Inc. has a 1 year low of $18.03 and a 1 year high of $41.36. The business has a fifty day simple moving average of $33.18 and a 200 day simple moving average of $30.19.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $81.32 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.43%. The firm’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) earnings per share. As a group, sell-side analysts predict that Alkami Technology, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Needham & Company LLC boosted their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities boosted their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday. The Goldman Sachs Group lifted their target price on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday. Lake Street Capital boosted their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Barclays upped their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.44.

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.