914 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Bought by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC purchased a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 914 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors also recently bought and sold shares of ALKT. JPMorgan Chase & Co. lifted its position in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock worth $11,971,000 after buying an additional 313,478 shares during the last quarter. Castleark Management LLC bought a new stake in Alkami Technology in the third quarter worth $6,050,000. Loomis Sayles & Co. L P bought a new stake in Alkami Technology in the third quarter worth $6,032,000. Geode Capital Management LLC lifted its position in Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after buying an additional 173,394 shares during the last quarter. Finally, FMR LLC lifted its position in Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after buying an additional 141,319 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Insider Activity

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.77, for a total value of $3,977,000.00. Following the transaction, the chief financial officer now owns 353,841 shares in the company, valued at $14,072,256.57. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $40.05, for a total value of $2,002,500.00. Following the completion of the transaction, the insider now owns 191,668 shares in the company, valued at $7,676,303.40. This trade represents a 20.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 271,767 shares of company stock worth $9,984,434. Company insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $23.87 on Tuesday. The firm has a market cap of $2.44 billion, a P/E ratio of -50.79 and a beta of 0.49. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29. The stock’s fifty day moving average price is $33.53 and its 200-day moving average price is $34.89.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly 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 for the quarter, compared to analysts’ expectations 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, equities research analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALKT. Barclays decreased their target price on 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. lifted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group decreased their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.14.

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.