M&T Bank Corp Sells 15,626 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

M&T Bank Corp trimmed its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 29.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,249 shares of the company's stock after selling 15,626 shares during the quarter. M&T Bank Corp's holdings in Alkami Technology were worth $1,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in shares of Alkami Technology by 4.4% during the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company's stock worth $61,364,000 after acquiring an additional 75,469 shares during the last quarter. FMR LLC raised its holdings in Alkami Technology by 10.2% during the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company's stock worth $48,059,000 after purchasing an additional 141,319 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Alkami Technology by 16.4% in the 3rd 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 during the period. State Street Corp boosted its stake in shares of Alkami Technology by 5.1% in the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company's stock valued at $34,328,000 after purchasing an additional 52,699 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Alkami Technology by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 599,201 shares of the company's stock valued at $21,979,000 after purchasing an additional 64,826 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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Alkami Technology Stock Up 0.0 %

NASDAQ ALKT traded up $0.01 during mid-day trading on Friday, hitting $25.26. The company's stock had a trading volume of 1,858,128 shares, compared to its average volume of 649,252. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -53.74 and a beta of 0.49. The company's 50 day simple moving average is $32.79 and its 200 day simple moving average is $34.68. 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 twelve month low of $22.65 and a twelve month high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate 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 business had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALKT shares. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a report on Thursday. Barclays dropped their price objective on 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 decreased their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the firm's 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 transaction, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.77, for a total transaction of $3,977,000.00. Following the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $14,072,256.57. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,767 shares of company stock valued at $7,981,934 over the last ninety days. 38.00% of the stock is currently owned by insiders.

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.