Alliancebernstein L.P. Has $99.31 Million Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Alliancebernstein L.P. lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 5,747.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,707,329 shares of the company's stock after acquiring an additional 2,661,027 shares during the period. Alliancebernstein L.P. owned 2.69% of Alkami Technology worth $99,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Alkami Technology by 278.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company's stock worth $52,649,000 after purchasing an additional 1,055,828 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alkami Technology by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock valued at $273,187,000 after buying an additional 843,129 shares during the period. Loomis Sayles & Co. L P raised its position in Alkami Technology by 353.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 867,701 shares of the company's stock worth $31,827,000 after acquiring an additional 676,442 shares in the last quarter. Axiom Investors LLC DE bought a new stake in shares of Alkami Technology in the 4th quarter worth approximately $17,448,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Alkami Technology by 37.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,355,020 shares of the company's stock valued at $49,702,000 after purchasing an additional 368,585 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALKT. Barclays decreased their target price on Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on shares of 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 cut their target price on shares of 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $11,828,904.63. This represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,767 shares of company stock worth $4,004,934. 38.00% of the stock is owned by insiders.

Alkami Technology Stock Down 1.9 %

Shares of ALKT traded down $0.45 during mid-day trading on Monday, hitting $23.04. 626,136 shares of the company's stock were exchanged, compared to its average volume of 735,297. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -49.22 and a beta of 0.56. Alkami Technology, Inc. has a twelve month low of $21.06 and a twelve month high of $42.29. The firm has a fifty day moving average of $29.86 and a two-hundred day moving average of $34.16. 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 released its quarterly 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 company had revenue of $89.66 million for 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%. On average, sell-side analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current 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.