Vanguard Group Inc. Grows Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Vanguard Group Inc. boosted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 12.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,447,851 shares of the company’s stock after acquiring an additional 843,129 shares during the quarter. Vanguard Group Inc. owned 7.41% of Alkami Technology worth $273,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC purchased a new position in shares of Alkami Technology in the fourth quarter valued at about $1,527,000. KLP Kapitalforvaltning AS purchased a new position in Alkami Technology during the 4th quarter valued at about $400,000. Hillsdale Investment Management Inc. raised its position in Alkami Technology by 46,158.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 111,020 shares of the company’s stock valued at $4,072,000 after purchasing an additional 110,780 shares during the last quarter. Sei Investments Co. raised its position in Alkami Technology by 10.5% during the 4th quarter. Sei Investments Co. now owns 284,286 shares of the company’s stock valued at $10,428,000 after purchasing an additional 26,987 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Alkami Technology by 410.6% in the 4th quarter. Quantbot Technologies LP now owns 45,517 shares of the company’s stock worth $1,670,000 after buying an additional 36,602 shares during the period. Institutional investors own 54.97% of the company’s stock.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 100,000 shares of the business’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 value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $11,828,904.63. The trade was a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at $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 have sold a total of 121,767 shares of company stock worth $4,004,934 in the last quarter. Corporate insiders own 38.00% of the company’s stock.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $23.49 on Friday. The company has a 50 day simple moving average of $29.86 and a two-hundred day simple moving average of $34.12. Alkami Technology, Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $42.29. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -49.98 and a beta of 0.49. 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 (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ALKT shares. Stephens raised 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. Barclays dropped their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. 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 for the company in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus price target 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.