Swiss National Bank Sells 7,200 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Swiss National Bank trimmed its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,100 shares of the company’s stock after selling 7,200 shares during the quarter. Swiss National Bank owned approximately 0.11% of Alkami Technology worth $3,928,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ALKT. Victory Capital Management Inc. purchased a new stake in Alkami Technology in the 3rd quarter worth approximately $979,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Alkami Technology by 108.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company’s stock worth $1,719,000 after purchasing an additional 28,395 shares during the period. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares in the last quarter. Intech Investment Management LLC bought a new stake in Alkami Technology during the third quarter valued at $387,000. Finally, Charles Schwab Investment Management Inc. grew its position in Alkami Technology by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock worth $16,854,000 after buying an additional 120,845 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,767 shares of company stock worth $4,004,934. 38.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Alkami Technology Price Performance

ALKT stock opened at $27.62 on Wednesday. The firm’s fifty day moving average is $31.34 and its 200 day moving average is $34.38. 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 52 week low of $22.65 and a 52 week high of $42.29. The firm has a market cap of $2.82 billion, a P/E ratio of -58.77 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results 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). 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 the consensus estimate of $89.63 million. Research analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

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.