Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,490 shares of the company’s stock after selling 589 shares during the period. New York Life Investment Management LLC’s holdings in Alkami Technology were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC increased its holdings in shares of Alkami Technology by 31.7% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Alkami Technology in the 3rd quarter worth approximately $39,000. SG Americas Securities LLC purchased a new position in Alkami Technology during the 3rd quarter worth approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alkami Technology by 26.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company’s stock valued at $167,000 after acquiring an additional 1,915 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Alkami Technology in the 3rd quarter valued at $214,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Trading Down 3.8 %

Shares of ALKT opened at $26.57 on Thursday. The firm’s fifty day moving average is $24.21 and its two-hundred day moving average is $23.61. The stock has a market cap of $2.59 billion, a PE ratio of -44.28 and a beta of 0.40. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology, Inc. has a 52-week low of $11.97 and a 52-week high of $27.94.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The company had revenue of $76.10 million during the quarter, compared to the consensus estimate of $75.57 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. Alkami Technology’s quarterly revenue was up 26.8% on a year-over-year basis. Research analysts forecast that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In related news, insider Douglas A. Linebarger sold 33,593 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $23.59, for a total value of $792,458.87. Following the sale, the insider now owns 262,749 shares in the company, valued at approximately $6,198,248.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Douglas A. Linebarger sold 33,593 shares of Alkami Technology stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total value of $792,458.87. Following the completion of the transaction, the insider now owns 262,749 shares in the company, valued at $6,198,248.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The disclosure for this sale can be found here. Insiders sold 183,764 shares of company stock worth $4,564,599 in the last 90 days. Insiders own 25.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALKT. Craig Hallum boosted their target price on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Barclays upped their target price on Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their price target on Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group lowered Alkami Technology from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $27.00 in a research report on Tuesday, January 23rd. Finally, TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.90.

About Alkami Technology

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.