Alkami Technology, Inc. (NASDAQ:ALKT) Shares Acquired by Royce & Associates LP

Royce & Associates LP boosted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 36.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,010 shares of the company’s stock after purchasing an additional 57,908 shares during the quarter. Royce & Associates LP owned about 0.21% of Alkami Technology worth $7,887,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ALKT. Burkehill Global Management LP acquired a new position in shares of Alkami Technology in the 4th quarter valued at $12,838,000. JPMorgan Chase & Co. boosted its stake in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after acquiring an additional 313,478 shares in the last quarter. Castleark Management LLC acquired a new position in Alkami Technology in the third quarter valued at $6,050,000. Loomis Sayles & Co. L P acquired a new stake in shares of Alkami Technology during the third quarter worth about $6,032,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after purchasing an additional 173,394 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alkami Technology

In related 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 value of $3,343,000.00. Following the completion of the sale, the chief financial officer now owns 353,841 shares in the company, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their position. 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 over the last three months. 38.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALKT. JPMorgan Chase & Co. raised their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. The Goldman Sachs Group reduced their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Barclays lowered their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Alkami Technology presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Alkami Technology Stock Down 0.9 %

ALKT stock opened at $25.48 on Wednesday. The stock has a market capitalization of $2.60 billion, a PE ratio of -54.21 and a beta of 0.49. The company has a fifty day moving average of $32.14 and a 200-day moving average of $34.54. 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, Inc. has a one year low of $22.65 and a one year high of $42.29.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS 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 firm had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. As a group, analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

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.