Price T Rowe Associates Inc. MD Has $1.38 Million Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Price T Rowe Associates Inc. MD raised its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 152.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,564 shares of the company’s stock after purchasing an additional 22,706 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Alkami Technology were worth $1,378,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ALKT. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology in the 4th quarter valued at approximately $34,000. Blue Trust Inc. lifted its position in shares of Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after purchasing an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Alkami Technology by 73.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company’s stock worth $148,000 after purchasing an additional 1,710 shares during the last quarter. Bank of Montreal Can bought a new position in Alkami Technology in the fourth quarter valued at $203,000. Finally, Summit Investment Advisors Inc. increased its stake in Alkami Technology by 28.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock valued at $204,000 after buying an additional 1,238 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALKT. Barclays decreased their price objective on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. JMP Securities reiterated a “market outperform” rating and set a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Lake Street Capital decreased their target price on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research note on Thursday, March 13th. Finally, Needham & Company LLC decreased their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. 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, Alkami Technology has an average rating of “Moderate Buy” and an average target price of $39.88.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $29.41 on Friday. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29. The stock has a market cap of $3.03 billion, a PE ratio of -62.57 and a beta of 0.56. The firm has a 50-day moving average of $25.89 and a 200-day moving average of $32.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The firm had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. On average, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of Alkami Technology 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the transaction, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. 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.