Summit Global Investments acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,471 shares of the company's stock, valued at approximately $641,000.
Other hedge funds have also recently bought and sold shares 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 grew its position in Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company's stock valued at $48,059,000 after acquiring an additional 141,319 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $38,865,000 after purchasing an additional 173,394 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Alkami Technology during the 3rd quarter valued at approximately $875,000. Finally, Diversified Trust Co acquired a new position in Alkami Technology during the 4th quarter worth approximately $595,000. 54.97% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, CFO W Bryan Hill sold 17,409 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 $529,407.69. Following the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 owns 244,404 shares of the company's stock, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,767 shares of company stock worth $4,004,934 over the last quarter. 25.90% of the stock is currently owned by company insiders.
Alkami Technology Stock Performance
Shares of ALKT traded down $0.61 on Thursday, reaching $26.87. 809,818 shares of the company's stock traded hands, compared to its average volume of 692,128. The stock's 50 day simple moving average is $31.19 and its two-hundred day simple moving average is $34.33. The stock has a market cap of $2.75 billion, a PE ratio of -57.17 and a beta of 0.49. Alkami Technology, Inc. has a 52-week low of $22.65 and a 52-week high of $42.29. 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 (NASDAQ:ALKT - Get Free Report) last released its 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 net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million during the quarter, compared to analysts' expectations of $89.63 million. On average, analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ALKT has been the topic of several recent research reports. 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 research report on Thursday, March 13th. 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. Barclays cut their target price 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, JPMorgan Chase & Co. upped their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.00.
Read Our Latest Report on ALKT
About Alkami Technology
(
Free Report)
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.
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