Comerica Bank Sells 428,186 Shares of Alkami Technology, Inc. $ALKT

Comerica Bank reduced its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 98.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,561 shares of the company’s stock after selling 428,186 shares during the quarter. Comerica Bank’s holdings in Alkami Technology were worth $198,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC bought a new position in Alkami Technology during the third quarter valued at about $1,831,000. JANA Partners Management LP bought a new position in Alkami Technology during the third quarter valued at about $47,008,000. Algebris UK Ltd. bought a new position in Alkami Technology during the third quarter valued at about $12,728,000. Westfield Capital Management Co. LP raised its holdings in Alkami Technology by 160.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after buying an additional 1,904,474 shares in the last quarter. Finally, Long Path Partners LP increased its stake in shares of Alkami Technology by 138.2% in the third quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock worth $63,810,000 after purchasing an additional 1,490,357 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Stock Down 0.1%

ALKT stock opened at $16.61 on Friday. Alkami Technology, Inc. has a twelve month low of $14.11 and a twelve month high of $31.18. The company has a market cap of $1.78 billion, a PE ratio of -35.34 and a beta of 0.54. The business’s 50-day simple moving average is $16.79 and its 200 day simple moving average is $19.12. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The firm had revenue of $126.14 million for the quarter, compared to analyst estimates of $125.22 million. During the same period last year, the business earned $0.08 earnings per share. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, research analysts anticipate that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on ALKT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Needham & Company LLC dropped their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Citizens Jmp dropped their price objective on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Finally, Barclays dropped their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.80.

Insider Buying and Selling

In related news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the acquisition, the director owned 19,420,994 shares of the company’s stock, valued at $320,252,191.06. This trade represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Atlantic L.P. General acquired 900,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were bought at an average cost of $18.41 per share, for a total transaction of $16,569,000.00. Following the completion of the acquisition, the director directly owned 14,879,451 shares of the company’s stock, valued at approximately $273,930,692.91. This represents a 6.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 7,393,058 shares of company stock valued at $127,424,086 and have sold 13,739 shares valued at $232,189. 17.10% of the stock is owned by company insiders.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.