Corebridge Financial Inc. Purchases 2,483 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Corebridge Financial Inc. boosted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,389 shares of the company’s stock after purchasing an additional 2,483 shares during the period. Corebridge Financial Inc.’s holdings in Alkami Technology were worth $968,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock worth $273,187,000 after buying an additional 843,129 shares during the last quarter. Burkehill Global Management LP bought a new position in shares of Alkami Technology in the fourth quarter worth about $12,838,000. JPMorgan Chase & Co. boosted 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 valued at $11,971,000 after purchasing an additional 313,478 shares in the last quarter. Castleark Management LLC bought a new stake in shares of Alkami Technology during the 3rd quarter valued at approximately $6,050,000. Finally, Geode Capital Management LLC increased its position in Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after purchasing an additional 173,394 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

ALKT has been the topic of a number of research analyst reports. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research report on Thursday, March 13th. Barclays reduced their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group dropped their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, 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 report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Alkami Technology Price Performance

Alkami Technology stock opened at $23.49 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of -49.98 and a beta of 0.49. The stock’s 50 day moving average is $29.86 and its 200 day moving average is $34.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a one year low of $22.86 and a one year high of $42.29.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. As a group, research analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 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 transaction of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 17,409 shares of the firm’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 $529,407.69. Following the sale, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,767 shares of company stock worth $4,004,934. Company insiders own 38.00% of the company’s stock.

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.