Oppenheimer Asset Management Inc. Lowers Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Oppenheimer Asset Management Inc. trimmed its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,321 shares of the company’s stock after selling 1,645 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.06% of Alkami Technology worth $2,103,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ALKT. Advisors Asset Management Inc. lifted its holdings in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares during the period. Covestor Ltd raised its position in shares of Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares in the last quarter. Blue Trust Inc. raised its position in shares of Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after acquiring an additional 1,974 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in shares of Alkami Technology in the 3rd quarter worth $155,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after acquiring an additional 691 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Stock Up 6.5 %

ALKT stock opened at $30.84 on Monday. Alkami Technology, Inc. has a one year low of $22.65 and a one year high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm’s fifty day moving average is $34.85 and its 200 day moving average is $35.05. The firm has a market cap of $3.10 billion, a PE ratio of -65.62 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data 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 return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. On average, research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the sale, the insider now directly owns 191,668 shares in the company, valued at $7,676,303.40. The trade was a 20.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the sale, the chief financial officer now owns 353,841 shares in the company, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 283,298 shares of company stock worth $10,600,144 over the last 90 days. 38.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.