Geode Capital Management LLC Purchases 194,051 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Geode Capital Management LLC boosted its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,426,038 shares of the company's stock after buying an additional 194,051 shares during the quarter. Geode Capital Management LLC owned approximately 1.42% of Alkami Technology worth $52,320,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Essex Investment Management Co. LLC bought a new position in shares of Alkami Technology in the fourth quarter worth about $34,000. Blue Trust Inc. increased its position in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after buying an additional 1,974 shares during the period. Atria Investments Inc acquired a new position in shares of Alkami Technology during the fourth quarter worth approximately $239,000. Harbor Capital Advisors Inc. boosted its position 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 valued at $247,000 after acquiring an additional 615 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Alkami Technology in the third quarter worth $223,000. Institutional investors own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays reduced their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday. 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 research note on Thursday, March 13th. Finally, The Goldman Sachs Group lowered their price target 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 assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $40.38.

Alkami Technology Price Performance

NASDAQ ALKT traded down $0.16 during trading on Friday, reaching $24.75. 883,127 shares of the company traded hands, compared to its average volume of 795,262. Alkami Technology, Inc. has a 1-year low of $21.70 and a 1-year high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The stock's 50 day moving average price is $27.18 and its two-hundred day moving average price is $33.52. The company has a market cap of $2.55 billion, a price-to-earnings ratio of -52.66 and a beta of 0.56.

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

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 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 value 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. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction dated 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 transaction, the insider now directly owns 244,404 shares of the company's stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 38.00% of the stock is currently owned by insiders.

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.