Zions Bancorporation N.A. Makes New $1.51 Million Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Zions Bancorporation N.A. purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 41,157 shares of the company’s stock, valued at approximately $1,510,000.

A number of other large investors have also added to or reduced their stakes in ALKT. Victory Capital Management Inc. bought a new stake in shares of Alkami Technology during the 3rd quarter valued at $979,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Alkami Technology by 108.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company’s stock valued at $1,719,000 after purchasing an additional 28,395 shares in the last quarter. Advisors Asset Management Inc. lifted 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 purchasing an additional 631 shares during the period. Intech Investment Management LLC acquired a new stake in Alkami Technology during the third quarter worth about $387,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alkami Technology by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock valued at $16,854,000 after buying an additional 120,845 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

ALKT has been the subject of a number of recent 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 report on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the sale, the chief financial officer now owns 450,620 shares of the company’s stock, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’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 value of $132,526.78. Following the sale, the insider now directly owns 244,404 shares of the company’s stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,767 shares of company stock valued at $4,004,934. 38.00% of the stock is currently owned by company insiders.

Alkami Technology Price Performance

Alkami Technology stock opened at $27.62 on Wednesday. The stock has a 50-day moving average price of $31.34 and a two-hundred day moving average price of $34.38. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29. The company has a market capitalization of $2.82 billion, a PE ratio of -58.77 and a beta of 0.49. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Alkami Technology Company 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.