Rhumbline Advisers Acquires 10,891 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Rhumbline Advisers lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 16.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,352 shares of the company's stock after buying an additional 10,891 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of Alkami Technology worth $2,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE purchased a new stake in Alkami Technology in the 3rd quarter worth $259,000. Harbor Capital Advisors Inc. boosted its stake in Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company's stock valued at $193,000 after buying an additional 691 shares during the last quarter. Arlington Capital Management Inc. boosted its stake in Alkami Technology by 3.5% during the third quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company's stock valued at $2,239,000 after buying an additional 2,417 shares during the last quarter. Olympiad Research LP purchased a new position in Alkami Technology during the 3rd quarter valued at approximately $429,000. Finally, Principal Financial Group Inc. bought a new stake in Alkami Technology in the 3rd quarter worth approximately $875,000. Institutional investors own 54.97% of the company's stock.

Alkami Technology Trading Down 3.5 %

NASDAQ ALKT traded down $1.00 on Thursday, hitting $27.97. 793,755 shares of the stock were exchanged, compared to its average volume of 586,129. 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 52-week low of $22.65 and a 52-week high of $42.29. The firm has a market capitalization of $2.86 billion, a P/E ratio of -59.51 and a beta of 0.49. The stock has a fifty day moving average price of $34.00 and a two-hundred day moving average price of $34.93.

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Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). The firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALKT shares. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday. Barclays lowered their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.14.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the business's stock in a transaction that occurred 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 $7,432,325.64. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 271,767 shares of company stock worth $9,984,434 over the last 90 days. Company insiders own 38.00% of the company's stock.

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.