Zions Bancorporation N.A. acquired a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,157 shares of the company's stock, valued at approximately $1,510,000.
A number of other institutional investors have also made changes to their positions in the stock. Essex Investment Management Co. LLC bought a new stake in Alkami Technology during the fourth quarter valued at about $34,000. Advisors Asset Management Inc. boosted its stake in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock valued at $37,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. grew its holdings in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after buying an additional 1,974 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of Alkami Technology during the third quarter worth approximately $155,000. Finally, Atria Investments Inc bought a new stake in shares of Alkami Technology in the fourth quarter valued at approximately $239,000. 54.97% of the stock is owned by institutional investors.
Insider Activity at Alkami Technology
In other news, CFO W Bryan Hill sold 100,000 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,767 shares of company stock valued at $4,004,934 in the last three months. Corporate insiders own 25.90% of the company's stock.
Alkami Technology Price Performance
NASDAQ:ALKT traded down $0.46 during trading hours on Friday, reaching $26.41. The company had a trading volume of 1,207,994 shares, compared to its average volume of 718,554. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $30.84 and a two-hundred day moving average of $34.29. Alkami Technology, Inc. has a one year low of $22.65 and a one year high of $42.29. The firm has a market capitalization of $2.70 billion, a PE ratio of -56.19 and a beta of 0.49.
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). The firm 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%. Analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on ALKT. Barclays cut their target price on shares of 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. JPMorgan Chase & Co. upped their price objective 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. The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Finally, Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a research report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Alkami Technology presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.
Read Our Latest Analysis on Alkami Technology
Alkami Technology Profile
(
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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