Vanguard Group Inc. Buys 843,129 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Vanguard Group Inc. raised its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 12.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,447,851 shares of the company’s stock after buying an additional 843,129 shares during the quarter. Vanguard Group Inc. owned approximately 0.07% of Alkami Technology worth $273,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALKT. Essex Investment Management Co. LLC purchased a new stake in Alkami Technology during the fourth quarter valued at $34,000. Blue Trust Inc. increased its position in shares of Alkami Technology by 162.6% during the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after purchasing an additional 1,974 shares during the last quarter. Stifel Financial Corp bought a new position in shares of Alkami Technology in the 3rd quarter worth approximately $223,000. Atria Investments Inc purchased a new position in shares of Alkami Technology in the fourth quarter worth approximately $239,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Alkami Technology by 10.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after buying an additional 615 shares during the last quarter. 54.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the firm’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 $529,407.69. Following the completion of the transaction, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction 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 in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,767 shares of company stock worth $4,004,934. Insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $23.49 on Friday. The stock has a 50-day moving average price of $29.86 and a 200 day moving average price of $34.12. The stock has a market capitalization of $2.40 billion, a P/E ratio of -49.98 and a beta of 0.49. Alkami Technology, Inc. has a 12-month low of $22.86 and a 12-month high of $42.29. 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 (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (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 company had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stephens upgraded shares of 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. 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 report on Monday, December 9th. Barclays cut 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, The Goldman Sachs Group decreased their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Alkami Technology Company 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.