Axa S.A. Makes New Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Axa S.A. purchased a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the second quarter, Holdings Channel.com reports. The firm purchased 200,000 shares of the company’s stock, valued at approximately $7,134,000.

Other hedge funds have also modified their holdings of the company. FMR LLC purchased a new position in shares of Alkami Technology during the second quarter valued at about $73,837,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Alkami Technology during the second quarter valued at about $26,343,000. BlackRock Inc. purchased a new position in shares of Alkami Technology during the second quarter valued at about $20,657,000. Geode Capital Management LLC purchased a new position in shares of Alkami Technology during the second quarter valued at about $4,097,000. Finally, Vanguard Group Inc. purchased a new position in shares of Alkami Technology during the second quarter valued at about $1,469,000. Institutional investors and hedge funds own 40.06% of the company’s stock.

ALKT opened at $26.14 on Thursday. Alkami Technology, Inc. has a 12 month low of $24.01 and a 12 month high of $49.32. The company has a quick ratio of 12.46, a current ratio of 12.46 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $27.48.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, August 4th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.04). The company had revenue of $36.70 million during the quarter, compared to the consensus estimate of $34.44 million. Analysts anticipate that Alkami Technology, Inc. will post -0.48 earnings per share for the current year.

In other Alkami Technology news, Director H Eugene Lockhart sold 11,801 shares of the firm’s stock in a transaction dated Friday, September 3rd. The shares were sold at an average price of $30.02, for a total value of $354,266.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael D. Hansen sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 9th. The stock was sold at an average price of $30.56, for a total transaction of $3,056,000.00. Following the completion of the sale, the chief executive officer now directly owns 150,000 shares of the company’s stock, valued at approximately $4,584,000. The disclosure for this sale can be found here. In the last three months, insiders sold 204,571 shares of company stock valued at $6,140,581.

A number of research analysts have recently weighed in on ALKT shares. Barclays cut their price objective on Alkami Technology from $40.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday. Zacks Investment Research upgraded Alkami Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, October 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Alkami Technology has a consensus rating of “Buy” and a consensus price target of $46.43.

About Alkami Technology

Alkami Technology, Inc offers a cloud-based digital banking platform to serve banks and credit unions in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.

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Institutional Ownership by Quarter for Alkami Technology (NASDAQ:ALKT)

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