Swiss National Bank reduced its holdings in Alkami Technology, Inc. (NASDAQ:ALKT – Free Report) by 9.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 83,600 shares of the company’s stock after selling 8,300 shares during the quarter. Swiss National Bank owned approximately 0.09% of Alkami Technology worth $2,027,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of ALKT. Vanguard Group Inc. boosted its stake in Alkami Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock valued at $78,252,000 after acquiring an additional 31,069 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Alkami Technology by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock worth $40,900,000 after buying an additional 217,123 shares during the last quarter. FMR LLC increased its position in Alkami Technology by 1.8% in the third quarter. FMR LLC now owns 1,182,327 shares of the company’s stock worth $21,542,000 after buying an additional 21,086 shares during the period. Bamco Inc. NY grew its position in shares of Alkami Technology by 0.8% during the third quarter. Bamco Inc. NY now owns 780,130 shares of the company’s stock worth $14,214,000 after acquiring an additional 6,064 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Alkami Technology by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 301,329 shares of the company’s stock worth $5,490,000 after acquiring an additional 19,324 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ALKT has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. William Blair reissued an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Craig Hallum increased their target price on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research report on Monday, April 15th. Finally, Needham & Company LLC raised their price objective on shares of Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.90.
View Our Latest Stock Analysis on ALKT
Insider Buying and Selling at Alkami Technology
In other news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total value of $1,197,627.99. Following the completion of the sale, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Douglas A. Linebarger sold 33,593 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total value of $792,458.87. Following the completion of the sale, the insider now directly owns 262,749 shares of the company’s stock, valued at $6,198,248.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The disclosure for this sale can be found here. Insiders have sold a total of 1,839,035 shares of company stock valued at $48,732,457 in the last three months. 38.00% of the stock is currently owned by company insiders.
Alkami Technology Trading Up 1.7 %
Shares of NASDAQ ALKT opened at $27.40 on Friday. The business has a fifty day simple moving average of $24.98 and a 200-day simple moving average of $24.29. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -45.67 and a beta of 0.40. Alkami Technology, Inc. has a 12 month low of $13.97 and a 12 month high of $29.28. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) earnings per share. Sell-side analysts predict that Alkami Technology, Inc. will post -0.38 EPS for the current year.
About Alkami Technology
(Free Report)
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.
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