Massachusetts Financial Services Co. MA Cuts Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Massachusetts Financial Services Co. MA decreased its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,204,581 shares of the company’s stock after selling 109,531 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.20% of Alkami Technology worth $44,184,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ALKT. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology during the 4th quarter valued at $34,000. Blue Trust Inc. grew its stake 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. Stifel Financial Corp acquired a new stake in shares of Alkami Technology during the third quarter valued at about $223,000. Atria Investments Inc purchased a new stake in shares of Alkami Technology during the fourth quarter worth about $239,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Alkami Technology by 10.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after acquiring an additional 615 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insider Activity at Alkami Technology

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. 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 research note on Thursday, March 13th. JPMorgan Chase & Co. upped 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, Barclays decreased 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 report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $23.49 on Friday. The company has a market cap of $2.42 billion, a P/E ratio of -49.98 and a beta of 0.56. Alkami Technology, Inc. has a 52 week low of $23.08 and a 52 week high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $29.86 and a two-hundred day moving average of $34.14.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share 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 company had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. As a group, analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

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.