Raymond James Financial Inc. Takes $1.13 Million Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Raymond James Financial Inc. acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 30,901 shares of the company's stock, valued at approximately $1,133,000.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Alkami Technology by 474.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock worth $11,971,000 after acquiring an additional 313,478 shares in the last quarter. FMR LLC increased 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. Geode Capital Management LLC raised its holdings in shares of Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock worth $38,865,000 after buying an additional 173,394 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Alkami Technology during the 4th quarter worth $595,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alkami Technology by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company's stock valued at $16,854,000 after buying an additional 120,845 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALKT has been the subject of several research analyst reports. 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. The Goldman Sachs Group dropped their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Finally, Barclays dropped their price target on Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $41.00.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 353,841 shares of the company's stock, valued at $11,828,904.63. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,767 shares of company stock worth $4,004,934 over the last ninety days. Insiders own 38.00% of the company's stock.

Alkami Technology Trading Down 1.3 %

Shares of NASDAQ:ALKT traded down $0.30 during mid-day trading on Tuesday, reaching $22.54. 2,222,227 shares of the company's stock were exchanged, compared to its average volume of 752,290. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -47.96 and a beta of 0.56. The business's fifty day moving average price is $29.07 and its 200-day moving average price is $33.95.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced 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). The company 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%. On average, research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

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.