New York Life Investment Management LLC Reduces Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

New York Life Investment Management LLC trimmed its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,490 shares of the company’s stock after selling 589 shares during the period. New York Life Investment Management LLC’s holdings in Alkami Technology were worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Beaird Harris Wealth Management LLC boosted its holdings in shares of Alkami Technology by 31.7% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Alkami Technology during the 3rd quarter valued at about $39,000. SG Americas Securities LLC purchased a new position in Alkami Technology during the 3rd quarter valued at about $110,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alkami Technology by 26.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company’s stock worth $167,000 after buying an additional 1,915 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Alkami Technology in the fourth quarter worth about $232,000. Institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. The Goldman Sachs Group downgraded shares of Alkami Technology from a “buy” rating to a “neutral” rating and raised their target price for the company from $23.00 to $27.00 in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. lifted their target price on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Barclays increased their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and a consensus target price of $26.90.

Insiders Place Their Bets

In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $23.02, for a total transaction of $668,777.04. Following the transaction, the insider now owns 434,823 shares in the company, valued at approximately $10,009,625.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alkami Technology news, insider Douglas A. Linebarger sold 33,593 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at $6,198,248.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the sale, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The disclosure for this sale can be found here. Insiders sold 183,764 shares of company stock worth $4,564,599 over the last three months. Company insiders own 25.90% of the company’s stock.

Alkami Technology Stock Down 3.8 %

Shares of NASDAQ:ALKT opened at $26.57 on Thursday. The stock has a market capitalization of $2.59 billion, a P/E ratio of -44.28 and a beta of 0.40. The stock’s 50-day moving average price is $24.21 and its 200-day moving average price is $23.61. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology, Inc. has a 12-month low of $11.97 and a 12-month high of $27.94.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. During the same quarter last year, the business earned ($0.16) earnings per share. The business’s revenue was up 26.8% on a year-over-year basis. On average, equities analysts anticipate that Alkami Technology, Inc. will post -0.41 earnings per share 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.