Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 107,100 shares of the company’s stock after selling 7,200 shares during the quarter. Swiss National Bank’s holdings in Alkami Technology were worth $3,928,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. raised its position in Alkami Technology by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after purchasing an additional 75,469 shares in the last quarter. FMR LLC increased its holdings in shares of Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after purchasing an additional 141,319 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after buying an additional 173,394 shares in the last quarter. State Street Corp increased its position in Alkami Technology by 5.1% during the third quarter. State Street Corp now owns 1,088,408 shares of the company’s stock worth $34,328,000 after buying an additional 52,699 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Alkami Technology by 12.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 599,201 shares of the company’s stock valued at $21,979,000 after acquiring an additional 64,826 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,767 shares of company stock valued at $4,004,934 in the last 90 days. 38.00% of the stock is currently owned by insiders.

Alkami Technology Price Performance

Shares of ALKT opened at $27.62 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a market cap of $2.82 billion, a PE ratio of -58.77 and a beta of 0.49. The firm’s 50 day moving average price is $31.34 and its 200 day moving average price is $34.38. Alkami Technology, Inc. has a twelve month low of $22.65 and a twelve month high of $42.29.

Alkami Technology (NASDAQ:ALKT) last released 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). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. As a group, research analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.