Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 29.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,443 shares of the company’s stock after selling 2,718 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alkami Technology were worth $156,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALKT. Lord Abbett & CO. LLC purchased a new position in Alkami Technology in the third quarter valued at about $5,484,000. Massachusetts Financial Services Co. MA grew its position in Alkami Technology by 10.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after acquiring an additional 217,123 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Alkami Technology during the third quarter valued at approximately $2,217,000. PEAK6 Investments LLC lifted its position in shares of Alkami Technology by 217.3% during the third quarter. PEAK6 Investments LLC now owns 113,538 shares of the company’s stock worth $2,069,000 after purchasing an additional 77,750 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Alkami Technology by 1,283.9% in the fourth quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock valued at $2,030,000 after purchasing an additional 77,677 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ALKT shares. Needham & Company LLC upped their price objective on shares of Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. William Blair reaffirmed an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Finally, Barclays boosted their target price on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.90.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares in the company, valued at approximately $7,049,555.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares in the company, valued at approximately $7,049,555.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total value of $1,197,627.99. Following the transaction, the chief financial officer now directly owns 508,501 shares in the company, valued at $12,158,258.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,764 shares of company stock worth $4,564,599. Insiders own 25.90% of the company’s stock.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $26.57 on Thursday. The company has a market cap of $2.59 billion, a P/E ratio of -44.28 and a beta of 0.40. The business has a 50 day moving average of $24.21 and a two-hundred day moving average of $23.61. Alkami Technology, Inc. has a 52 week low of $11.97 and a 52 week high of $27.94. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The business had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, analysts anticipate that Alkami Technology, Inc. will post -0.41 EPS 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.