Royce & Associates LP Buys 57,908 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Royce & Associates LP raised its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 36.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 215,010 shares of the company's stock after buying an additional 57,908 shares during the period. Royce & Associates LP owned approximately 0.21% of Alkami Technology worth $7,887,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Burkehill Global Management LP acquired a new stake in Alkami Technology during the 4th quarter worth about $12,838,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Alkami Technology by 74.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,249 shares of the company's stock worth $3,494,000 after acquiring an additional 40,755 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Alkami Technology during the fourth quarter valued at approximately $34,000. Amundi lifted its position in shares of Alkami Technology by 9.5% in the 4th quarter. Amundi now owns 28,492 shares of the company's stock valued at $1,023,000 after acquiring an additional 2,478 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Alkami Technology in the 4th quarter worth approximately $2,538,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Stock Up 1.1 %

ALKT stock traded up $0.28 during trading hours on Friday, hitting $26.55. The company's stock had a trading volume of 3,376,399 shares, compared to its average volume of 682,627. The stock has a 50 day moving average price of $31.60 and a two-hundred day moving average price of $34.38. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29. The company has a market capitalization of $2.71 billion, a PE ratio of -56.49 and a beta of 0.49. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

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Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued 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 return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. On average, equities research analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology 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 transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of the business's 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 transaction, the chief financial officer now directly owns 353,841 shares of the company's stock, valued at approximately $11,828,904.63. This represents a 22.03 % 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 valued at $4,004,934. Corporate insiders own 38.00% of the company's stock.

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.