Loomis Sayles & Co. L P Purchases 676,442 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Loomis Sayles & Co. L P boosted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 353.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 867,701 shares of the company’s stock after buying an additional 676,442 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Alkami Technology were worth $31,827,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Alkami Technology by 474.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock worth $11,971,000 after acquiring an additional 313,478 shares in the last quarter. FMR LLC grew its holdings in Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after purchasing an additional 141,319 shares during the period. Geode Capital Management LLC increased its stake in shares of Alkami Technology by 16.4% during the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after purchasing an additional 173,394 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Alkami Technology during the fourth quarter valued at approximately $595,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alkami Technology by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock valued at $16,854,000 after purchasing an additional 120,845 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $26.87 on Friday. The firm has a market cap of $2.75 billion, a PE ratio of -57.17 and a beta of 0.49. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29. The stock has a 50 day moving average of $31.02 and a 200 day moving average of $34.28. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. On average, research analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALKT. JPMorgan Chase & Co. raised their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays reduced their price target on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Alkami Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, 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 in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO W Bryan Hill sold 17,409 shares of the 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 $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,767 shares of company stock worth $4,004,934 over the last quarter. Insiders own 25.90% 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.