Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,204,581 shares of the company's stock after selling 109,531 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.20% of Alkami Technology worth $44,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALKT. Vanguard Group Inc. lifted its stake in 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 last quarter. Alliancebernstein L.P. raised its stake in Alkami Technology by 5,747.1% during the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after acquiring an additional 2,661,027 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Alkami Technology by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock valued at $66,457,000 after purchasing an additional 6,970 shares during the last quarter. FMR LLC grew its stake in shares of Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company's stock valued at $48,059,000 after purchasing an additional 141,319 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alkami Technology by 278.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company's stock valued at $52,649,000 after purchasing an additional 1,055,828 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Barclays dropped their price target 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. Finally, Stephens raised 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Alkami Technology Price Performance

Shares of NASDAQ ALKT traded down $1.58 on Thursday, hitting $23.34. The company's stock had a trading volume of 535,616 shares, compared to its average volume of 762,231. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The stock has a 50 day moving average of $28.65 and a 200-day moving average of $33.85. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -49.97 and a beta of 0.56.

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 for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. As a group, research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares of the company's stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 17,409 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction 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 trade represents a 3.72 % 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 valued at $4,004,934. Company insiders own 38.00% of the company's stock.

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.