Charles Schwab Investment Management Inc. lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 599,201 shares of the company's stock after purchasing an additional 64,826 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.60% of Alkami Technology worth $21,979,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of ALKT. Principal Financial Group Inc. purchased a new position in shares of Alkami Technology in the third quarter worth about $875,000. GSA Capital Partners LLP purchased a new position in shares of Alkami Technology in the third quarter worth about $203,000. Victory Capital Management Inc. purchased a new position in shares of Alkami Technology in the third quarter worth about $979,000. Fifth Third Wealth Advisors LLC purchased a new position in shares of Alkami Technology in the third quarter worth about $1,115,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Alkami Technology by 108.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company's stock worth $1,719,000 after purchasing an additional 28,395 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.
Alkami Technology Price Performance
Shares of Alkami Technology stock traded up $0.28 on Friday, reaching $26.55. The company's stock had a trading volume of 3,376,399 shares, compared to its average volume of 682,627. The company has a market capitalization of $2.71 billion, a P/E ratio of -56.49 and a beta of 0.49. Alkami Technology, Inc. has a 52-week low of $22.65 and a 52-week high of $42.29. The stock has a 50-day moving average price of $31.60 and a 200-day moving average price of $34.38. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.
Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. Analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.
Insiders Place Their Bets
In related news, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,767 shares of company stock valued at $4,004,934. Insiders own 38.00% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ALKT. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. Barclays decreased 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. JPMorgan Chase & Co. boosted 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. Finally, The Goldman Sachs Group decreased their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.
Read Our Latest Report on ALKT
Alkami Technology Profile
(
Free Report)
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.
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