Franklin Resources Inc. lowered its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT – Free Report) by 19.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,367,912 shares of the company’s stock after selling 338,185 shares during the quarter. Franklin Resources Inc. owned about 1.43% of Alkami Technology worth $33,172,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of ALKT. Vanguard Group Inc. grew its position in Alkami Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock worth $78,252,000 after buying an additional 31,069 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Alkami Technology by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after purchasing an additional 217,123 shares during the period. FMR LLC raised its stake in shares of Alkami Technology by 1.8% in the third quarter. FMR LLC now owns 1,182,327 shares of the company’s stock valued at $21,542,000 after purchasing an additional 21,086 shares in the last quarter. Bamco Inc. NY lifted its position in Alkami Technology by 0.8% in the third quarter. Bamco Inc. NY now owns 780,130 shares of the company’s stock worth $14,214,000 after purchasing an additional 6,064 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alkami Technology by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,781 shares of the company’s stock worth $7,512,000 after buying an additional 8,452 shares in the last quarter. 54.97% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Craig Hallum raised their price objective on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. TheStreet upgraded Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. Needham & Company LLC boosted their target price 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. Finally, William Blair reaffirmed an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.90.
View Our Latest Research Report on ALKT
Alkami Technology Stock Up 1.7 %
NASDAQ ALKT opened at $27.40 on Monday. The stock has a market capitalization of $2.67 billion, a P/E ratio of -45.67 and a beta of 0.40. Alkami Technology, Inc. has a 52 week low of $13.97 and a 52 week high of $29.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. The stock has a fifty day moving average of $24.98 and a 200-day moving average of $24.33.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The company’s revenue was up 26.8% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share. On average, equities research analysts forecast that Alkami Technology, Inc. will post -0.38 EPS for the current year.
Insider Activity at Alkami Technology
In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction 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 approximately $12,158,258.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the transaction, the director now owns 17,186,985 shares of the company’s stock, valued at $455,970,712.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction dated 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 transaction, 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 1,839,035 shares of company stock worth $48,732,457 over the last ninety days. Company insiders own 38.00% of the company’s stock.
Alkami Technology Company Profile
(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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