Alkami Technology, Inc. (NASDAQ:ALKT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 45.8% during the second quarter, HoldingsChannel reports. The fund owned 173,294 shares of the company’s stock after acquiring an additional 54,453 shares during the quarter. Bank of New York Mellon Corp’s holdings in Alkami Technology were worth $4,935,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new stake in shares of Alkami Technology in the 4th quarter valued at about $43,000. Perkins Coie Trust Co bought a new stake in Alkami Technology in the second quarter valued at about $85,000. Quest Partners LLC acquired a new stake in Alkami Technology during the fourth quarter valued at approximately $113,000. Acadian Asset Management LLC bought a new position in Alkami Technology during the 1st quarter worth approximately $140,000. Finally, MQS Management LLC acquired a new position in shares of Alkami Technology in the 1st quarter worth approximately $237,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Trading Up 1.9 %

Alkami Technology stock opened at $30.17 on Friday. The firm has a 50-day moving average price of $31.83 and a two-hundred day moving average price of $27.76. Alkami Technology, Inc. has a 52-week low of $16.49 and a 52-week high of $36.00. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -50.28 and a beta of 0.47. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The business had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue was up 24.9% on a year-over-year basis. Sell-side analysts expect that Alkami Technology, Inc. will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALKT shares. The Goldman Sachs Group upped their price target on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Craig Hallum increased their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Lake Street Capital increased their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JMP Securities lifted their target price on Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

Insider Transactions at Alkami Technology

In related news, CEO Alex Shootman sold 37,758 shares of Alkami Technology stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the sale, the chief executive officer now directly owns 1,056,207 shares in the company, valued at $31,422,158.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Alex Shootman sold 37,758 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the transaction, the chief executive officer now directly owns 1,056,207 shares in the company, valued at $31,422,158.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the transaction, the director now owns 15,555,049 shares in the company, valued at approximately $484,850,877.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,693,370 shares of company stock valued at $114,775,873. 38.00% of the stock is currently owned by corporate insiders.

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.