Alliancebernstein L.P. Increases Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Alliancebernstein L.P. boosted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 5,747.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,707,329 shares of the company’s stock after purchasing an additional 2,661,027 shares during the period. Alliancebernstein L.P.’s holdings in Alkami Technology were worth $99,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Alkami Technology by 278.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock valued at $52,649,000 after buying an additional 1,055,828 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Alkami Technology by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock valued at $273,187,000 after acquiring an additional 843,129 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Alkami Technology by 353.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 867,701 shares of the company’s stock valued at $31,827,000 after acquiring an additional 676,442 shares in the last quarter. Axiom Investors LLC DE purchased a new stake in shares of Alkami Technology during the fourth quarter worth $17,448,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Alkami Technology by 37.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,355,020 shares of the company’s stock valued at $49,702,000 after purchasing an additional 368,585 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALKT. 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. Barclays dropped their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group decreased their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 450,620 shares in the company, valued at $13,703,354.20. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,767 shares of company stock worth $4,004,934. Company insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $26.92 on Thursday. Alkami Technology, Inc. has a 52 week low of $22.86 and a 52 week high of $42.29. The firm has a 50 day moving average of $30.30 and a two-hundred day moving average of $34.23. 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 $2.75 billion, a PE ratio of -57.28 and a beta of 0.49.

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 the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. On average, research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Alkami Technology Company 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.