Intech Investment Management LLC Has $1.02 Million Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Intech Investment Management LLC increased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 126.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,766 shares of the company’s stock after purchasing an additional 15,497 shares during the quarter. Intech Investment Management LLC’s holdings in Alkami Technology were worth $1,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology during the fourth quarter worth about $34,000. Advisors Asset Management Inc. grew its position in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares in the last quarter. Blue Trust Inc. grew its position in Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after buying an additional 1,974 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in Alkami Technology during the third quarter worth about $155,000. Finally, GSA Capital Partners LLP acquired a new stake in Alkami Technology during the third quarter worth about $203,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $26.55 on Friday. Alkami Technology, Inc. has a 1 year low of $22.65 and a 1 year high of $42.29. The firm has a 50 day moving average of $31.60 and a 200-day moving average of $34.39. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.71 billion, a P/E ratio of -56.49 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last posted its 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 firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. As a group, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the transaction, the chief financial officer now owns 450,620 shares in the company, valued at $13,703,354.20. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares of the company’s stock, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,767 shares of company stock worth $4,004,934 in the last quarter. Insiders own 38.00% of the company’s stock.

Analyst Upgrades and Downgrades

ALKT has been the subject of a number of analyst reports. Barclays cut their price target 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. The Goldman Sachs Group cut their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.00.

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.