Franklin Resources Inc. reduced its holdings in Alkami Technology Inc. (NASDAQ:ALKT – free report ) by 19.8% during the fourth quarter, according to the latest disclosures made to the Securities and Exchange Commission. The company sold 338,185 shares during the quarter, leaving it holding 1,367,912 shares of the company's stock. Franklin Resources Inc. held approximately 1.43% of Alkami Technology Inc. worth $33,172,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of ALKT. The Vanguard Group increased its holdings in Alkami Technology by 0.7% in the third quarter. The Vanguard Group now owns 4,294,834 shares of the company, valued at $78,252,000, after purchasing an additional 31,069 shares in the last quarter. Massachusetts Financial Services Inc. (MA) increased its holdings in Alkami Technology by 10.7% in the third quarter. Massachusetts Financial Services Inc. (MA) now owns 2,244,783 shares of the company, valued at $40,900,000, after purchasing an additional 217,123 shares during the period. FMR LLC increased its holdings in Alkami Technology by 1.8% in the third quarter. FMR LLC now owns 1,182,327 shares of the company's stock valued at $21,542,000 after purchasing an additional 21,086 shares in the last quarter. Bamco Inc. NY increased its holdings in Alkami Technology by 0.8% in the third quarter. Bamco Inc. NY now owns 780,130 shares of the company's stock valued at $14,214,000 after purchasing an additional 6,064 shares in the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alkami Technology by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 309,781 shares of the company's stock valued at $7,512,000 after purchasing an additional 8,452 shares in the last quarter. 54.97% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equity analysts have recently commented on the stock. Craig Hulme increased their price target on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. TheStreet raised their price target on Alkami Technology from a “d” to a “c-” in a research report on Thursday, February 29th. Needham & Company LLC raised their price target on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, William Blair reaffirmed an “outperform” rating for Alkami Technology in a report on Thursday, February 29th. Three investment analysts have rated the company's shares with a “hold” rating, and eight have rated it with a “buy” rating. According to MarketBeat, the company's current consensus rating is a “moderate buy,” with a consensus target price of $26.90.
Read the latest research report on ALKT
Alkami Technology shares up 1.7%
NASDAQ ALKT opened trading at $27.40 on Monday. The stock has a market cap of $2.67 billion, a P/E ratio of -45.67 and a beta of 0.40. Alkami Technology, Inc.'s 52-week low is $13.97 and its 52-week high is $29.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. The stock's 50-day moving average is $24.98 and its 200-day moving average is $24.33.
Alkami Technology (NASDAQ:ALKT – get free report ) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The company's revenue for the quarter was $76.10 million, beating analysts' estimates of $75.57 million. Alkami Technology's ROE was -15.31% and net margin was -20.42%. The company's revenue grew 26.8% year-over-year. During the same period last year, the company earned ($0.16) earnings per share. On average, equities research analysts expect Alkami Technology, Inc. to post -0.38 EPS for the current year.
Internal Activities at Alkami Technology
In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of Alkami Technology stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total transaction value of $1,197,627.99. Following the completion of the sale, the CFO now owns 508,501 shares of the company's stock, valued at approximately $12,158,258.91. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available at this hyperlink. In other Alkami Technology news, Director Atlantic Genpar (Bermu General) sold 1,542,821 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total transaction value of $40,931,041.13. Following this transaction, the director now owns 17,186,985 shares of the company's stock, valued at $455,970,712.05. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, available at this link. Additionally, CFO W Bryan Hill sold 50,089 shares of the company's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total value of $1,197,627.99. Following this transaction, the Chief Financial Officer now owns 508,501 shares of the company's stock, valued at $12,158,258.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,839,035 shares of company stock for $48,732,457. Company insiders own 38.00% of the company's stock.
Alkami Technology Company Profile
(Free report)
Alkami Technology, Inc provides cloud-based digital banking solutions in the U.S. The company's Alkami platform enables financial institutions to onboard and engage new users, accelerate revenue, and increase operational efficiency with support from a unique cloud-based, multi-tenant architecture.
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