PNC Financial Services Group Inc. Sells 2,106 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

PNC Financial Services Group Inc. lessened its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 22.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,150 shares of the company’s stock after selling 2,106 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alkami Technology were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in Alkami Technology by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after purchasing an additional 75,469 shares during the period. FMR LLC raised its stake 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 purchasing an additional 141,319 shares during the period. Geode Capital Management LLC raised its stake 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 purchasing an additional 173,394 shares during the period. State Street Corp raised its stake 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 purchasing an additional 52,699 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Alkami Technology by 12.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 599,201 shares of the company’s stock valued at $21,979,000 after purchasing an additional 64,826 shares during the period. Institutional investors own 54.97% of the company’s stock.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at $11,828,904.63. The trade was a 22.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology 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 sale, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,767 shares of company stock valued at $4,004,934 in the last ninety days. Corporate insiders own 38.00% of the company’s stock.

Alkami Technology Price Performance

ALKT opened at $26.55 on Friday. The business has a fifty day moving average of $31.60 and a 200 day moving average of $34.39. 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. The stock has a market cap of $2.71 billion, a P/E ratio of -56.49 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last posted 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 business 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%. As a group, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays cut their price target on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. The Goldman Sachs Group cut their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.