Envestnet Asset Management Inc. Sells 5,376 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Envestnet Asset Management Inc. cut its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,680 shares of the company’s stock after selling 5,376 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Alkami Technology worth $4,647,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALKT. Alliancebernstein L.P. lifted its stake in Alkami Technology by 5,747.1% in the fourth 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 last quarter. JPMorgan Chase & Co. grew its holdings in Alkami Technology by 278.2% during 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. Vanguard Group Inc. grew its holdings in Alkami Technology by 12.8% during the fourth 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 period. Loomis Sayles & Co. L P increased its position in Alkami Technology by 353.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 867,701 shares of the company’s stock worth $31,827,000 after buying an additional 676,442 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new stake in Alkami Technology in the fourth quarter valued at approximately $17,448,000. 54.97% of the stock is currently 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 Alkami Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares of the company’s stock, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the sale, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.10% of the company’s stock.

Alkami Technology Stock Performance

ALKT opened at $25.10 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The company has a market capitalization of $2.59 billion, a PE ratio of -53.40 and a beta of 0.56. The business has a fifty day simple moving average of $26.85 and a 200 day simple moving average of $33.42. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29.

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 analysts’ consensus estimates 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 business had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Research analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

ALKT has been the subject of several research analyst reports. Barclays reduced their target price on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Stephens raised shares of 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. Finally, The Goldman Sachs Group dropped their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.