Zions Bancorporation N.A. Acquires Shares of 41,157 Alkami Technology, Inc. (NASDAQ:ALKT)

Zions Bancorporation N.A. bought a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, HoldingsChannel reports. The fund bought 41,157 shares of the company’s stock, valued at approximately $1,510,000.

A number of other hedge funds also recently made changes to their positions in ALKT. Victory Capital Management Inc. purchased a new stake in shares of Alkami Technology during the 3rd quarter worth approximately $979,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Alkami Technology by 108.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company’s stock valued at $1,719,000 after purchasing an additional 28,395 shares during the period. Advisors Asset Management Inc. increased its position in Alkami Technology by 117.9% in 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. Intech Investment Management LLC purchased a new stake in Alkami Technology in the third quarter worth $387,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alkami Technology by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock valued at $16,854,000 after buying an additional 120,845 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares in the company, valued at approximately $11,828,904.63. The trade was a 22.03 % 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 valued at $4,004,934 over the last 90 days. 38.00% of the stock is owned by insiders.

Analyst Ratings Changes

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

Alkami Technology Stock Up 0.3 %

Shares of NASDAQ ALKT opened at $27.62 on Wednesday. The business has a 50-day moving average of $31.34 and a 200-day moving average of $34.38. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -58.77 and a beta of 0.49. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). The company 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%. Sell-side analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

About Alkami Technology

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.