Russell Investments Group Ltd. Increases Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Russell Investments Group Ltd. grew its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 123.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,718 shares of the company's stock after acquiring an additional 67,194 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Alkami Technology worth $4,465,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in Alkami Technology during the 4th quarter valued at $305,000. Wells Fargo & Company MN increased its stake in Alkami Technology by 71.3% in the 4th quarter. Wells Fargo & Company MN now owns 30,805 shares of the company's stock worth $1,130,000 after buying an additional 12,827 shares during the period. Pamalican Asset Management Ltd bought a new stake in Alkami Technology during the 4th quarter valued at about $7,402,000. Landscape Capital Management L.L.C. purchased a new stake in Alkami Technology in the 4th quarter valued at about $216,000. Finally, Trexquant Investment LP grew its stake in Alkami Technology by 209.5% in the 4th quarter. Trexquant Investment LP now owns 236,931 shares of the company's stock worth $8,691,000 after acquiring an additional 160,387 shares in the last quarter. Institutional investors own 54.97% of the company's stock.

Analyst Upgrades and Downgrades

ALKT has been the subject of a number of research reports. The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Barclays decreased their price objective 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. Finally, Stephens raised 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 research report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $40.38.

Alkami Technology Trading Down 0.6 %

Shares of Alkami Technology stock traded down $0.16 on Friday, reaching $24.75. The company had a trading volume of 883,127 shares, compared to its average volume of 797,649. The firm's 50 day moving average price is $27.18 and its two-hundred day moving average price is $33.55. 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 52-week low of $21.70 and a 52-week high of $42.29. The firm has a market cap of $2.55 billion, a PE ratio of -52.66 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its 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). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million during the quarter, compared to analysts' expectations of $89.63 million. Sell-side analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction on 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 owns 244,404 shares of the company's stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the firm'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 $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.10% of the company's stock.

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.