Bamco Inc. NY Has $16.37 Million Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Bamco Inc. NY lowered its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 14.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 666,151 shares of the company’s stock after selling 112,867 shares during the quarter. Bamco Inc. NY’s holdings in Alkami Technology were worth $16,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ALKT. NBC Securities Inc. acquired a new position in shares of Alkami Technology during the fourth quarter valued at about $43,000. Quest Partners LLC acquired a new stake in Alkami Technology during the 4th quarter worth $113,000. Acadian Asset Management LLC bought a new stake in Alkami Technology in the first quarter valued at about $140,000. Harvest Fund Management Co. Ltd raised its position in shares of Alkami Technology by 253.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after acquiring an additional 5,445 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Alkami Technology during the fourth quarter worth $232,000. 54.97% of the stock is owned by institutional investors.

Alkami Technology Trading Up 3.0 %

Alkami Technology stock traded up $0.96 during trading hours on Friday, reaching $33.43. 453,649 shares of the company’s stock were exchanged, compared to its average volume of 504,103. The firm has a market capitalization of $3.26 billion, a PE ratio of -55.72 and a beta of 0.47. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. The firm’s 50 day simple moving average is $28.82 and its 200 day simple moving average is $26.17. Alkami Technology, Inc. has a twelve month low of $14.93 and a twelve month high of $34.47.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $75.57 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The business’s revenue was up 26.8% compared to the same quarter last year. Research analysts predict that Alkami Technology, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALKT has been the topic of a number of research reports. Barclays upped their price objective on Alkami Technology from $28.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Craig Hallum lifted their price objective on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Alkami Technology in a report on Tuesday, June 25th. Finally, JMP Securities upped their price target on shares of Alkami Technology from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.56.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $25.72, for a total value of $2,572,000.00. Following the transaction, the chief financial officer now owns 489,340 shares of the company’s stock, valued at approximately $12,585,824.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alkami Technology news, insider Stephen Bohanon sold 12,450 shares of Alkami Technology stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.66, for a total value of $356,817.00. Following the sale, the insider now owns 449,552 shares of the company’s stock, valued at $12,884,160.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at approximately $12,585,824.80. The disclosure for this sale can be found here. Insiders have sold a total of 1,848,472 shares of company stock worth $49,241,550 in the last ninety days. Corporate insiders own 38.00% of the company’s stock.

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.