New York State Common Retirement Fund Has $1.64 Million Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

New York State Common Retirement Fund grew its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 33.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,567 shares of the company's stock after purchasing an additional 11,175 shares during the quarter. New York State Common Retirement Fund's holdings in Alkami Technology were worth $1,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. US Bancorp DE acquired a new position in Alkami Technology during the third quarter worth approximately $259,000. Harbor Capital Advisors Inc. boosted its holdings in Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company's stock valued at $193,000 after purchasing an additional 691 shares during the period. Arlington Capital Management Inc. grew its position in Alkami Technology by 3.5% during the third quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company's stock worth $2,239,000 after buying an additional 2,417 shares in the last quarter. Olympiad Research LP bought a new stake in shares of Alkami Technology during the 3rd quarter valued at $429,000. Finally, Principal Financial Group Inc. bought a new position in shares of Alkami Technology in the third quarter worth $875,000. Institutional investors own 54.97% of the company's stock.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 50,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the transaction, the insider now owns 191,668 shares of the company's stock, valued at $7,676,303.40. This represents a 20.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares of the company's stock, valued at $14,072,256.57. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,767 shares of company stock valued at $9,984,434. 38.00% of the stock is currently owned by company insiders.

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Alkami Technology Trading Down 2.0 %

Shares of Alkami Technology stock traded down $0.58 during trading on Thursday, hitting $28.39. The company's stock had a trading volume of 192,474 shares, compared to its average volume of 583,351. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -60.43 and a beta of 0.47. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29. The stock has a 50-day moving average price of $34.24 and a two-hundred day moving average price of $34.98. 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 (NASDAQ:ALKT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Equities research analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALKT shares. The Goldman Sachs Group cut their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday. JPMorgan Chase & Co. raised their target price on Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Finally, Barclays decreased their target price on Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.14.

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.