Russell Investments Group Ltd. Purchases 67,194 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Russell Investments Group Ltd. boosted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 123.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,718 shares of the company’s stock after acquiring an additional 67,194 shares during the period. Russell Investments Group Ltd. owned 0.12% of Alkami Technology worth $4,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALKT. Harbor Capital Advisors Inc. boosted its position in shares of Alkami Technology by 10.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after purchasing an additional 615 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology in the 4th quarter valued at about $34,000. Blue Trust Inc. raised its position in shares of 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 during the period. Amundi grew its holdings in Alkami Technology by 9.5% during the fourth 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 period. Finally, Corebridge Financial Inc. grew its holdings in shares of Alkami Technology by 10.4% in the 4th quarter. Corebridge Financial Inc. now owns 26,389 shares of the company’s stock valued at $968,000 after buying an additional 2,483 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the sale, the chief financial officer now owns 450,620 shares of the company’s stock, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. 38.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report 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 on the stock in a report on Thursday, March 13th. Finally, Barclays reduced their price target on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and a consensus price target of $40.38.

Alkami Technology Trading Up 1.4 %

Shares of NASDAQ:ALKT opened at $24.95 on Wednesday. The stock has a market capitalization of $2.57 billion, a PE ratio of -53.09 and a beta of 0.56. The company’s 50-day moving average price is $27.77 and its two-hundred day moving average price is $33.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a one year low of $21.70 and a one year high of $42.29.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $89.63 million. On average, equities analysts forecast 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.