Massachusetts Financial Services Co. MA Has $38.64 Million Stake in Alkami Technology, Inc. $ALKT

Massachusetts Financial Services Co. MA increased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 12.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,555,374 shares of the company’s stock after purchasing an additional 177,547 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.49% of Alkami Technology worth $38,635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Alkami Technology by 27.6% during the second quarter. Blue Trust Inc. now owns 1,852 shares of the company’s stock valued at $56,000 after buying an additional 401 shares during the last quarter. Amundi boosted its holdings in Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after purchasing an additional 548 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after purchasing an additional 594 shares during the last quarter. CWM LLC grew its position in Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after purchasing an additional 601 shares in the last quarter. Finally, Trust Point Inc. raised its stake in shares of Alkami Technology by 8.6% during the 3rd quarter. Trust Point Inc. now owns 9,064 shares of the company’s stock worth $225,000 after purchasing an additional 717 shares during the period. 54.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the completion of the sale, the insider directly owned 221,751 shares in the company, valued at approximately $4,510,415.34. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Barclays reduced their target price on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. The Goldman Sachs Group decreased their price target on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Citizens Jmp dropped their price target on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Alkami Technology Stock Performance

Alkami Technology stock opened at $19.62 on Thursday. Alkami Technology, Inc. has a twelve month low of $18.71 and a twelve month high of $36.96. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $2.06 billion, a P/E ratio of -45.63 and a beta of 0.53. The stock’s 50 day moving average is $21.78 and its 200 day moving average is $23.44.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Thursday, October 30th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.29). Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The company had revenue of $112.95 million during the quarter, compared to the consensus estimate of $113.48 million. During the same period last year, the firm posted ($0.09) earnings per share. The company’s revenue was up 31.5% compared to the same quarter last year. On average, equities research analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Alkami Technology Company Profile

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.