Blue Trust Inc. Raises Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Blue Trust Inc. increased its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 507.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,214 shares of the company’s stock after acquiring an additional 1,014 shares during the quarter. Blue Trust Inc.’s holdings in Alkami Technology were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Alkami Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after acquiring an additional 88,390 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after purchasing an additional 181,194 shares during the last quarter. Driehaus Capital Management LLC increased its position in Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after acquiring an additional 392,483 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Alkami Technology by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after purchasing an additional 120,468 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Alkami Technology by 124.1% during the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after purchasing an additional 284,977 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ALKT shares. The Goldman Sachs Group boosted their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC upped their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday. Lake Street Capital increased their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays raised their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Craig Hallum raised their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Stock Up 2.7 %

Shares of Alkami Technology stock opened at $37.60 on Friday. The business’s fifty day moving average price is $33.18 and its two-hundred day moving average price is $30.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75. The company has a market capitalization of $3.72 billion, a P/E ratio of -80.00 and a beta of 0.46. Alkami Technology, Inc. has a 1-year low of $18.03 and a 1-year high of $41.36.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative return on equity of 11.43% and a negative net margin of 14.55%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, research analysts forecast that Alkami Technology, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In related news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the transaction, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Stephen Bohanon sold 35,893 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80. Following the transaction, the insider now owns 403,786 shares of the company’s stock, valued at $13,567,209.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the sale, the chief executive officer now directly owns 1,056,207 shares in the company, valued at $31,422,158.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,648,416 shares of company stock worth $113,920,758 over the last 90 days. 38.00% of the stock is currently owned by corporate 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.