Alkami Technology, Inc. (NASDAQ:ALKT) Stock Holdings Increased by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,521 shares of the company’s stock after acquiring an additional 40,106 shares during the period. Nuveen Asset Management LLC owned approximately 0.44% of Alkami Technology worth $16,048,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth $34,000. Quarry LP bought a new stake in shares of Alkami Technology in the 4th quarter worth $61,000. Blue Trust Inc. raised its stake in shares of Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after buying an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Alkami Technology by 73.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company’s stock worth $148,000 after buying an additional 1,710 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Alkami Technology in the 4th quarter worth $203,000. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $29.02 on Monday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -61.74 and a beta of 0.56. The stock’s fifty day simple moving average is $26.80 and its 200 day simple moving average is $32.17. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share 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 for the quarter, compared to analysts’ expectations of $89.63 million. As a group, sell-side analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Joseph P. Payne bought 8,200 shares of the stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the purchase, the director now directly owns 21,128 shares of the company’s stock, valued at $643,558.88. This trade represents a 63.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the transaction, the chief financial officer now owns 450,620 shares in the company, 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. 18.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on ALKT shares. JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. The Goldman Sachs Group dropped their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Needham & Company LLC dropped their price objective 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. Stephens raised 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. Finally, Barclays decreased their target price on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.88.

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.