Prudential Financial Inc. Grows Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Prudential Financial Inc. lifted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,815 shares of the company’s stock after purchasing an additional 2,933 shares during the quarter. Prudential Financial Inc. owned 0.10% of Alkami Technology worth $3,730,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Intech Investment Management LLC purchased a new position in Alkami Technology in the 3rd quarter worth approximately $387,000. Charles Schwab Investment Management Inc. grew its position in Alkami Technology by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock worth $16,854,000 after acquiring an additional 120,845 shares in the last quarter. FMR LLC increased its stake in Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after acquiring an additional 141,319 shares during the last quarter. Quantbot Technologies LP raised its position in Alkami Technology by 20.6% during the third quarter. Quantbot Technologies LP now owns 8,915 shares of the company’s stock valued at $281,000 after purchasing an additional 1,524 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alkami Technology by 46.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,447 shares of the company’s stock worth $298,000 after purchasing an additional 3,004 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Price Performance

ALKT stock opened at $26.53 on Wednesday. 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 firm’s 50-day moving average price is $30.47 and its two-hundred day moving average price is $34.28. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 12-month low of $22.65 and a 12-month high of $42.29.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results 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. As a group, equities analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALKT shares. 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. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a research note on Thursday, March 13th. Barclays cut their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 4,358 shares of the 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 completion of the transaction, the insider now directly owns 244,404 shares of the company’s stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,767 shares of company stock valued at $4,004,934 over the last quarter. 38.00% of the stock is owned by company insiders.

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.