Loomis Sayles & Co. L P Buys 676,442 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Loomis Sayles & Co. L P raised its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 353.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 867,701 shares of the company's stock after buying an additional 676,442 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.86% of Alkami Technology worth $31,827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALKT. Harbor Capital Advisors Inc. increased its holdings in 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 buying an additional 615 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after acquiring an additional 631 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology in the fourth quarter valued at $34,000. Quantbot Technologies LP boosted its stake in shares of Alkami Technology by 20.6% during the third quarter. Quantbot Technologies LP now owns 8,915 shares of the company's stock valued at $281,000 after acquiring an additional 1,524 shares during the last quarter. Finally, PDT Partners LLC lifted its holdings in Alkami Technology by 4.5% in the 3rd quarter. PDT Partners LLC now owns 45,042 shares of the company's stock valued at $1,421,000 after purchasing an additional 1,947 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Remove Ads

Alkami Technology Stock Up 0.5 %

Shares of NASDAQ ALKT traded up $0.14 on Tuesday, hitting $26.39. The company had a trading volume of 103,118 shares, compared to its average volume of 719,103. 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, Inc. has a 12-month low of $22.65 and a 12-month high of $42.29. The firm has a market capitalization of $2.70 billion, a P/E ratio of -56.00 and a beta of 0.49. The business has a 50 day moving average of $30.66 and a two-hundred day moving average of $34.30.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced 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 business had revenue of $89.66 million for the quarter, compared to analyst estimates 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, equities research analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALKT. Barclays reduced their price objective on shares of 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. The Goldman Sachs Group reduced their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Finally, Stephens upgraded shares of 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Insider Activity

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now owns 244,404 shares of the company's stock, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 353,841 shares of the company's stock, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 121,767 shares of company stock worth $4,004,934. 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.