Axiom Investors LLC DE Invests $17.45 Million in Alkami Technology, Inc. (NASDAQ:ALKT)

Axiom Investors LLC DE purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 475,670 shares of the company’s stock, valued at approximately $17,448,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock worth $273,187,000 after buying an additional 843,129 shares during the period. Franklin Resources Inc. increased its stake in Alkami Technology by 4.4% in the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after purchasing an additional 75,469 shares in the last quarter. FMR LLC raised its holdings 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 purchasing an additional 141,319 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Alkami Technology by 278.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock worth $52,649,000 after purchasing an additional 1,055,828 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Alkami Technology by 37.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,355,020 shares of the company’s stock valued at $49,702,000 after buying an additional 368,585 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ALKT. Barclays reduced their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Alkami Technology Trading Down 1.7 %

Alkami Technology stock opened at $26.41 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a 50-day moving average of $30.84 and a 200-day moving average of $34.33. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -56.19 and a beta of 0.49. Alkami Technology, Inc. has a one year low of $22.65 and a one year high of $42.29.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS 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 company had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. On average, equities analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

In other Alkami Technology 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 transaction of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were 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 in the company, valued at approximately $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,767 shares of company stock worth $4,004,934. Insiders own 38.00% of the company’s stock.

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.