Bank of New York Mellon Corp Sells 119,832 Shares of Alkami Technology, Inc. $ALKT

Bank of New York Mellon Corp decreased its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 405,314 shares of the company’s stock after selling 119,832 shares during the period. Bank of New York Mellon Corp owned about 0.39% of Alkami Technology worth $12,216,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in Alkami Technology by 27.6% in the second quarter. Blue Trust Inc. now owns 1,852 shares of the company’s stock valued at $56,000 after acquiring an additional 401 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Alkami Technology by 18.8% in the 1st quarter. Covestor Ltd now owns 3,252 shares of the company’s stock worth $85,000 after purchasing an additional 514 shares in the last quarter. Amundi increased its position in shares of Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after purchasing an additional 548 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Alkami Technology by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after purchasing an additional 594 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after buying an additional 601 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ALKT shares. Barclays reduced their price target on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. The Goldman Sachs Group decreased their target price on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Citizens Jmp lowered their price target on shares of Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, Needham & Company LLC decreased their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $20.74 on Wednesday. The company’s fifty day simple moving average is $23.12 and its two-hundred day simple moving average is $25.81. Alkami Technology, Inc. has a 12-month low of $18.71 and a 12-month high of $42.29. The firm has a market cap of $2.18 billion, a PE ratio of -48.23 and a beta of 0.55. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Thursday, October 30th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.29). The firm had revenue of $112.95 million for the quarter, compared to analysts’ expectations of $113.48 million. Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The business’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Alkami Technology has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Activity at Alkami Technology

In related news, CAO Prerna Sachdeva sold 2,967 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the completion of the sale, the chief accounting officer owned 66,061 shares of the company’s stock, valued at $1,635,670.36. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 20,366 shares of Alkami Technology stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total transaction of $504,262.16. Following the completion of the sale, the chief financial officer owned 409,889 shares in the company, valued at approximately $10,148,851.64. This trade represents a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 18.10% of the company’s stock.

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.