Lazard Asset Management LLC Has $2.29 Million Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Lazard Asset Management LLC increased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 46.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,505 shares of the company’s stock after purchasing an additional 19,916 shares during the quarter. Lazard Asset Management LLC owned about 0.06% of Alkami Technology worth $2,292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Alliancebernstein L.P. boosted its position in Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after buying an additional 2,661,027 shares during the last quarter. Champlain Investment Partners LLC acquired a new position in shares of Alkami Technology during the fourth quarter valued at $57,772,000. Invesco Ltd. boosted its holdings in Alkami Technology by 353.1% in the fourth 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 last quarter. JPMorgan Chase & Co. increased its position in Alkami Technology by 278.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock worth $52,649,000 after purchasing 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 worth $273,187,000 after purchasing an additional 843,129 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insider Activity

In related news, insider Douglas A. Linebarger sold 4,358 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 transaction of $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph P. Payne bought 8,200 shares of Alkami Technology stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average cost of $30.46 per share, with a total value of $249,772.00. Following the completion of the purchase, the director now owns 21,128 shares in the company, valued at approximately $643,558.88. This trade represents a 63.43% increase in their position. The disclosure for this purchase can be found here. 18.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ALKT shares. Lake Street Capital lowered 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. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group dropped their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Needham & Company LLC cut their price target on Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.88.

Alkami Technology Trading Up 1.3%

ALKT opened at $30.89 on Friday. The firm’s fifty day moving average is $26.33 and its two-hundred day moving average is $32.47. The firm has a market cap of $3.18 billion, a PE ratio of -65.72 and a beta of 0.56. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The business 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%. Equities research analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Alkami Technology 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.