Connor Clark & Lunn Investment Management Ltd. Increases Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 74.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,249 shares of the company’s stock after buying an additional 40,755 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Alkami Technology worth $3,494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Alkami Technology by 474.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after purchasing an additional 313,478 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of Alkami Technology in the third quarter worth about $6,050,000. Loomis Sayles & Co. L P bought a new position in Alkami Technology during the third quarter valued at approximately $6,032,000. Geode Capital Management LLC increased its stake in Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after acquiring an additional 173,394 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Alkami Technology by 10.2% during the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after acquiring an additional 141,319 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. 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 17,409 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,767 shares of company stock worth $4,004,934. Insiders own 38.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALKT shares. The Goldman Sachs Group cut their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Barclays reduced their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Alkami Technology Stock Up 1.8 %

Shares of NASDAQ:ALKT opened at $25.71 on Tuesday. The firm has a market capitalization of $2.63 billion, a PE ratio of -54.70 and a beta of 0.49. The business has a 50 day simple moving average of $32.34 and a two-hundred day simple moving average of $34.59. Alkami Technology, Inc. has a 1 year low of $22.65 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

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

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.