Private Advisor Group LLC Acquires New Shares in Alkami Technology, Inc. (NASDAQ:ALKT)

Private Advisor Group LLC bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,400 shares of the company’s stock, valued at approximately $308,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in shares of Alkami Technology by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock worth $61,364,000 after purchasing an additional 75,469 shares in the last quarter. FMR LLC boosted its holdings in Alkami Technology by 10.2% during the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after acquiring an additional 141,319 shares during the period. Geode Capital Management LLC boosted its holdings in Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after acquiring an additional 173,394 shares during the period. State Street Corp boosted its holdings in Alkami Technology by 5.1% during the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company’s stock valued at $34,328,000 after acquiring an additional 52,699 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Alkami Technology by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock valued at $16,854,000 after acquiring an additional 120,845 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the business’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 $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares of the company’s stock, valued at approximately $13,703,354.20. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction dated 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 in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 271,767 shares of company stock worth $9,984,434 over the last quarter. 38.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. Barclays cut their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.14.

Alkami Technology Trading Up 0.5 %

ALKT opened at $28.97 on Thursday. The business has a 50 day moving average of $34.24 and a 200-day moving average of $34.98. The stock has a market cap of $2.91 billion, a PE ratio of -61.64 and a beta of 0.47. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29. 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 (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Equities research analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

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.