Loomis Sayles & Co. L P Raises Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Loomis Sayles & Co. L P boosted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 353.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 867,701 shares of the company’s stock after buying an additional 676,442 shares during the period. Loomis Sayles & Co. L P owned approximately 0.86% of Alkami Technology worth $31,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its position in shares of Alkami Technology by 10.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock valued at $247,000 after acquiring an additional 615 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Alkami Technology in the 4th quarter worth approximately $34,000. Quantbot Technologies LP increased its holdings in shares of Alkami Technology by 20.6% in the 3rd quarter. Quantbot Technologies LP now owns 8,915 shares of the company’s stock worth $281,000 after buying an additional 1,524 shares during the last quarter. Finally, PDT Partners LLC increased its holdings in shares of Alkami Technology by 4.5% in the 3rd quarter. PDT Partners LLC now owns 45,042 shares of the company’s stock worth $1,421,000 after buying an additional 1,947 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology 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 sale, the insider now 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 legal filing with the SEC, which is available at this link. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares of the company’s stock, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,767 shares of company stock worth $4,004,934 in the last 90 days. Company insiders own 25.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stephens upgraded 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. JPMorgan Chase & Co. increased their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group dropped 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. Finally, Barclays reduced their price target on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $26.87 on Friday. 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, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The company has a market capitalization of $2.75 billion, a P/E ratio of -57.17 and a beta of 0.49. The stock has a 50 day moving average price of $31.02 and a two-hundred day moving average price of $34.28.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share 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 firm had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

About Alkami Technology

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.