JPMorgan Chase & Co. Raises Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

JPMorgan Chase & Co. lifted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 278.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,435,370 shares of the company's stock after purchasing an additional 1,055,828 shares during the quarter. JPMorgan Chase & Co. owned 1.43% of Alkami Technology worth $52,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Arlington Capital Management Inc. grew its holdings in Alkami Technology by 6.4% during the fourth quarter. Arlington Capital Management Inc. now owns 75,564 shares of the company's stock valued at $2,772,000 after purchasing an additional 4,559 shares during the period. Zions Bancorporation N.A. purchased a new stake in shares of Alkami Technology in the fourth quarter worth about $1,510,000. Prudential Financial Inc. raised its position in Alkami Technology by 2.9% during the fourth quarter. Prudential Financial Inc. now owns 103,815 shares of the company's stock valued at $3,730,000 after purchasing an additional 2,933 shares during the period. Corebridge Financial Inc. raised its position in Alkami Technology by 10.4% during the fourth quarter. Corebridge Financial Inc. now owns 26,389 shares of the company's stock valued at $968,000 after purchasing an additional 2,483 shares during the period. Finally, Vanguard Group Inc. raised 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 worth $273,187,000 after buying an additional 843,129 shares during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ALKT shares. Barclays reduced their price target 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. The Goldman Sachs Group reduced their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a report on Thursday, March 13th. Two 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 a consensus rating of "Moderate Buy" and an average target price of $41.00.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, 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 transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the company's stock in a transaction on 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 transaction, the chief financial officer now owns 353,841 shares of the company's stock, valued at $11,828,904.63. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,767 shares of company stock valued at $4,004,934 over the last quarter. 38.00% of the stock is owned by company insiders.

Alkami Technology Price Performance

ALKT stock traded down $0.61 during trading on Thursday, hitting $24.31. The stock had a trading volume of 290,534 shares, compared to its average volume of 1,116,908. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. The stock has a market capitalization of $2.50 billion, a P/E ratio of -51.72 and a beta of 0.56. The company's 50-day moving average price is $28.65 and its two-hundred day moving average price is $33.85.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share 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 analyst estimates of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. As a group, research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

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.