LPL Financial LLC Purchases Shares of 42,934 Alkami Technology, Inc. (NASDAQ:ALKT)

LPL Financial LLC acquired a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,934 shares of the company's stock, valued at approximately $1,527,000.

Several other hedge funds have also recently made changes to their positions in ALKT. Burkehill Global Management LP purchased a new position in shares of Alkami Technology during the fourth quarter valued at approximately $12,838,000. JPMorgan Chase & Co. increased its stake in shares of Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock worth $11,971,000 after purchasing an additional 313,478 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock worth $38,865,000 after purchasing an additional 173,394 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Alkami Technology by 86.8% in the fourth quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock worth $10,595,000 after purchasing an additional 134,198 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Alkami Technology by 46,158.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 111,020 shares of the company's stock worth $4,072,000 after acquiring an additional 110,780 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the company'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 directly owns 450,620 shares of the company's stock, valued at $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 available at this hyperlink. 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. 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 report on Thursday, March 13th. The Goldman Sachs Group cut their target price 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. Finally, Barclays lowered their price target on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Alkami Technology presently has a consensus rating of "Moderate Buy" and an average price target of $40.38.

Alkami Technology Stock Up 5.1 %

Shares of ALKT stock traded up $1.28 during trading hours on Wednesday, reaching $26.38. 71,443 shares of the company's stock were exchanged, compared to its average volume of 796,971. The stock's 50 day moving average is $26.85 and its 200-day moving average is $33.42. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -56.13 and a beta of 0.56. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29.

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

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.