Alkami Technology, Inc. (NASDAQ:ALKT) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 13.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,570,179 shares of the company’s stock after purchasing an additional 181,194 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.61% of Alkami Technology worth $44,719,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Swiss National Bank grew its position in Alkami Technology by 1.3% in the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after buying an additional 1,100 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Alkami Technology by 61.6% during the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after acquiring an additional 1,102 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Alkami Technology by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock worth $283,000 after acquiring an additional 1,460 shares during the period. Arizona State Retirement System raised its holdings in Alkami Technology by 14.8% during the second quarter. Arizona State Retirement System now owns 13,543 shares of the company’s stock worth $386,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Perkins Coie Trust Co acquired a new stake in Alkami Technology in the second quarter valued at about $85,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Stock Up 3.5 %

Shares of NASDAQ ALKT opened at $32.05 on Friday. The firm’s 50-day moving average is $31.86 and its two-hundred day moving average is $27.89. The company has a market capitalization of $3.13 billion, a PE ratio of -53.42 and a beta of 0.47. Alkami Technology, Inc. has a 12-month low of $16.49 and a 12-month high of $36.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The company had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same quarter last year, the business posted ($0.17) earnings per share. Alkami Technology’s revenue was up 24.9% compared to the same quarter last year. Equities analysts anticipate that Alkami Technology, Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In other news, CEO Alex Shootman sold 37,758 shares of Alkami Technology stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares in the company, valued at $31,422,158.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the transaction, the chief executive officer now directly owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 69,511 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $33.34, for a total value of $2,317,496.74. Following the sale, the chief financial officer now owns 489,340 shares in the company, valued at approximately $16,314,595.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,593,370 shares of company stock valued at $112,203,873. 38.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ALKT shares. Craig Hallum increased their target price on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities increased their price objective on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. Barclays boosted their target price on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Needham & Company LLC increased their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Lake Street Capital boosted their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

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.