Prudential Financial Inc. Acquires 2,933 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Prudential Financial Inc. raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,815 shares of the company’s stock after purchasing an additional 2,933 shares during the period. Prudential Financial Inc.’s holdings in Alkami Technology were worth $3,730,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ALKT. Harbor Capital Advisors Inc. grew its stake in shares of Alkami Technology by 10.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after buying an additional 615 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology in the fourth quarter worth $34,000. Quantbot Technologies LP grew its stake in shares of Alkami Technology by 20.6% in the third quarter. Quantbot Technologies LP now owns 8,915 shares of the company’s stock worth $281,000 after acquiring an additional 1,524 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after acquiring an additional 1,974 shares in the last quarter. Finally, Amundi raised its position in shares of Alkami Technology by 9.5% in the 4th quarter. Amundi now owns 28,492 shares of the company’s stock worth $1,023,000 after purchasing an additional 2,478 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Price Performance

NASDAQ ALKT opened at $26.53 on Wednesday. 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, Inc. has a 1-year low of $22.65 and a 1-year high of $42.29. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -56.45 and a beta of 0.49. The business’s fifty day moving average price is $30.47 and its 200-day moving average price is $34.28.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The firm had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. On average, equities analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALKT. JPMorgan Chase & Co. increased their price objective on shares of 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 reduced their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. 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 report on Thursday, March 13th. Finally, Barclays reduced their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,767 shares of company stock valued at $4,004,934. Insiders own 38.00% of the company’s stock.

Alkami Technology 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.