Bank of New York Mellon Corp Has $10.60 Million Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Bank of New York Mellon Corp raised its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 86.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 288,862 shares of the company’s stock after purchasing an additional 134,198 shares during the period. Bank of New York Mellon Corp owned 0.29% of Alkami Technology worth $10,595,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALKT. Harbor Capital Advisors Inc. raised its position in shares of Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after purchasing an additional 615 shares during the period. Advisors Asset Management Inc. raised its holdings in Alkami Technology by 117.9% during 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 during the last quarter. Quantbot Technologies LP raised its holdings in Alkami Technology by 20.6% during the third quarter. Quantbot Technologies LP now owns 8,915 shares of the company’s stock worth $281,000 after buying an additional 1,524 shares during the last quarter. PDT Partners LLC lifted its stake in shares of Alkami Technology by 4.5% in the third quarter. PDT Partners LLC now owns 45,042 shares of the company’s stock valued at $1,421,000 after buying an additional 1,947 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after buying an additional 1,974 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated 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 owns 353,841 shares of the company’s stock, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology 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 completion of the sale, the insider now owns 244,404 shares of the company’s stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,767 shares of company stock worth $7,981,934. 38.00% of the stock is owned by corporate insiders.

Alkami Technology Stock Performance

Shares of ALKT opened at $25.25 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -53.72 and a beta of 0.49. Alkami Technology, Inc. has a 52-week low of $22.65 and a 52-week high of $42.29. The stock’s 50-day simple moving average is $32.79 and its 200 day simple moving average is $34.68.

Alkami Technology (NASDAQ:ALKT) last announced 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). The firm had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALKT. The Goldman Sachs Group lowered 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. JPMorgan Chase & Co. raised their target price on 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 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. Finally, Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.