Ameriprise Financial Inc. Acquires 326,979 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Ameriprise Financial Inc. raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 37.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,208,179 shares of the company’s stock after acquiring an additional 326,979 shares during the quarter. Ameriprise Financial Inc. owned about 1.20% of Alkami Technology worth $44,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ALKT. Alliancebernstein L.P. raised its holdings in Alkami Technology by 5,747.1% during the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after acquiring an additional 2,661,027 shares during the period. Champlain Investment Partners LLC bought a new stake in Alkami Technology during the 4th quarter valued at $57,772,000. Invesco Ltd. raised its holdings in Alkami Technology by 353.1% during the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after acquiring an additional 1,134,746 shares during the period. JPMorgan Chase & Co. raised its holdings in Alkami Technology by 278.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock valued at $52,649,000 after acquiring an additional 1,055,828 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock valued at $273,187,000 after acquiring an additional 843,129 shares during the period. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Down 0.1%

Shares of NASDAQ:ALKT opened at $29.41 on Monday. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29. The firm has a fifty day moving average of $25.89 and a 200 day moving average of $32.70. The firm has a market capitalization of $3.03 billion, a PE ratio of -62.57 and a beta of 0.56. 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 (NASDAQ:ALKT) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. As a group, research analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares in the company, valued at $13,703,354.20. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, 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. 18.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALKT. JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. Needham & Company LLC reduced their price target on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Barclays reduced their price target on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Finally, Lake Street Capital reduced their price target on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average price target of $39.88.

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.