Mirae Asset Global Investments Co. Ltd. cut its stake in Alkami Technology, Inc. (NASDAQ:ALKT – Free Report) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,191 shares of the company’s stock after selling 1,494 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Alkami Technology were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in ALKT. NBC Securities Inc. bought a new stake in Alkami Technology during the fourth quarter valued at approximately $43,000. Quest Partners LLC bought a new stake in Alkami Technology during the fourth quarter valued at approximately $113,000. Harvest Fund Management Co. Ltd grew its position in Alkami Technology by 253.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after buying an additional 5,445 shares during the period. Cornerstone Investment Partners LLC bought a new stake in Alkami Technology during the fourth quarter valued at approximately $232,000. Finally, Contravisory Investment Management Inc. bought a new stake in Alkami Technology during the first quarter valued at approximately $248,000. 54.97% of the stock is currently owned by institutional investors.
Insider Activity at Alkami Technology
In related news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the completion of the transaction, the chief financial officer now directly owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the transaction, the director now directly owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, May 20th. The stock was sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the completion of the transaction, the chief financial officer now directly owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,848,472 shares of company stock valued at $49,241,550. Corporate insiders own 38.00% of the company’s stock.
Wall Street Analysts Forecast Growth
ALKT has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Alkami Technology in a research report on Tuesday, June 25th. Craig Hallum lifted their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a report on Monday, April 15th. Finally, Barclays lifted their price target on shares of Alkami Technology from $28.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.00.
Check Out Our Latest Research Report on ALKT
Alkami Technology Price Performance
Shares of NASDAQ:ALKT opened at $32.67 on Friday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of -54.45 and a beta of 0.47. The firm has a fifty day moving average price of $28.11 and a 200 day moving average price of $25.81. Alkami Technology, Inc. has a fifty-two week low of $14.93 and a fifty-two week high of $33.45. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. Alkami Technology’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the company posted ($0.16) earnings per share. As a group, sell-side analysts expect that Alkami Technology, Inc. will post -0.38 earnings per share for the current fiscal year.
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.
Further Reading
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