Alkami Technology, Inc. (NASDAQ:ALKT) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 599,201 shares of the company’s stock after acquiring an additional 64,826 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.60% of Alkami Technology worth $21,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALKT. JPMorgan Chase & Co. boosted its position 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. Castleark Management LLC acquired a new position in Alkami Technology during the third quarter worth about $6,050,000. Loomis Sayles & Co. L P acquired a new position in Alkami Technology in the 3rd quarter valued at about $6,032,000. Geode Capital Management LLC boosted its holdings in Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after purchasing an additional 173,394 shares during the last quarter. Finally, FMR LLC boosted its holdings in Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after purchasing an additional 141,319 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at $11,828,904.63. This represents a 22.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at approximately $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 have sold a total of 121,767 shares of company stock valued at $4,004,934 in the last ninety days. Company insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $25.48 on Wednesday. The firm’s 50 day moving average price is $32.14 and its 200-day moving average price is $34.54. 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 one year low of $22.65 and a one year high of $42.29. The firm has a market cap of $2.60 billion, a P/E ratio of -54.21 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. As a group, equities research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

ALKT has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Barclays decreased their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a report on Thursday, March 13th. Finally, The Goldman Sachs Group decreased their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

About Alkami Technology

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.