LPL Financial LLC Takes $1.53 Million Position in Alkami Technology, Inc. (NASDAQ:ALKT)

LPL Financial LLC bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 42,934 shares of the company’s stock, valued at approximately $1,527,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new stake in Alkami Technology during the third quarter worth approximately $647,000. Stifel Financial Corp acquired a new stake in Alkami Technology during the 3rd quarter worth $223,000. State Street Corp raised its stake in Alkami Technology by 5.1% during the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company’s stock worth $34,328,000 after acquiring an additional 52,699 shares in the last quarter. Barclays PLC lifted its position in Alkami Technology by 108.2% in the third quarter. Barclays PLC now owns 95,391 shares of the company’s stock valued at $3,009,000 after acquiring an additional 49,580 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after acquiring an additional 173,394 shares in the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the business’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 approximately $7,432,325.64. The trade was a 1.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the firm’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 owns 450,620 shares of the company’s stock, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. 38.00% of the stock is currently owned by insiders.

Alkami Technology Trading Down 0.6 %

NASDAQ:ALKT opened at $24.75 on Friday. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month 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. The stock’s 50 day simple moving average is $27.36 and its 200-day simple moving average is $33.57. The firm has a market cap of $2.55 billion, a P/E ratio of -52.66 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data 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 net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Equities analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

ALKT has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a research report on Thursday, March 13th. Finally, Barclays decreased their price objective on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $40.38.

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.