Corebridge Financial Inc. Purchases 2,483 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Corebridge Financial Inc. increased its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,389 shares of the company’s stock after purchasing an additional 2,483 shares during the period. Corebridge Financial Inc.’s holdings in Alkami Technology were worth $968,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ALKT. Harbor Capital Advisors Inc. lifted its stake in shares of Alkami Technology by 10.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock valued at $247,000 after buying an additional 615 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Alkami Technology in the 4th quarter worth about $34,000. Blue Trust Inc. lifted its position in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after acquiring an additional 1,974 shares in the last quarter. Amundi boosted its stake in Alkami Technology by 9.5% during the 4th quarter. Amundi now owns 28,492 shares of the company’s stock valued at $1,023,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Alkami Technology by 46.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,447 shares of the company’s stock worth $298,000 after purchasing an additional 3,004 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group reduced their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a report on Thursday, March 13th. Finally, Barclays cut their price target on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Alkami Technology Stock Down 6.7 %

ALKT opened at $23.49 on Friday. Alkami Technology, Inc. has a twelve month low of $22.86 and a twelve month high of $42.29. The company’s 50-day moving average price is $29.86 and its two-hundred day moving average price is $34.12. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -49.98 and a beta of 0.49. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) 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 analysts’ expectations of $89.63 million. As a group, equities analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Transactions at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the company’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 $132,526.78. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of Alkami Technology 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 of the company’s stock, valued at $13,703,354.20. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,767 shares of company stock worth $4,004,934. 38.00% of the stock is owned by company insiders.

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.