The Vanguard Group, Inc. recently announced the acquisition of new stake in Alkami Technology Inc (NASDAQ:ALKT). The institutional investor has increased its shareholding in the Technology company by 0.73% to 4.19 million shares with purchase of 30255.0 shares. This fresh investment now brings its stake to 4.39% valued currently at $101.56 million. In addition, Capital Research & Management Co raised its holdings by 72125.0 to 4.05 million shares. And BlackRock Fund Advisors has lifted its position by 1.72% or 41483.0 shares – to 2.46 million shares.
With over 0.47 million Alkami Technology Inc (ALKT) shares trading Friday and a closing price of $24.88 on the day, the dollar volume was approximately $11.73 million. The shares have shown a positive half year performance of 47.57% and its price on 01/12/24 lost nearly -0.76%. Currently, there are 92.11M common shares owned by the public and among those 49.63M shares have been available to trade.
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Insiders at the company have transacted a total of 68 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 11,103,027 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 10,537,254 shares.
The top 3 mutual fund holders in Alkami Technology Inc are American Funds Small Cap World Fu, MFS New Discovery Fund, and iShares Russell 2000 ETF. American Funds Small Cap World Fu owns 4.05 million shares of the company’s stock, all valued at over $98.16 million. The company bought an additional 72125.0 shares recently to bring their total holdings to about 4.25% of the shares outstanding. MFS New Discovery Fund sold -0.17 million shares to see its total holdings shrink to 1.23 million shares valued at over $29.89 million and representing 1.29% of the shares outstanding. iShares Russell 2000 ETF sold 2862.0 shares to bring its total holdings to over 1.08 million shares at a value of $26.24 million. iShares Russell 2000 ETF now owns shares totaling to 1.14% of the shares outstanding.
Shares of Alkami Technology Inc (NASDAQ: ALKT) opened at $25.29, up $0.22 from a prior closing price of $25.07. However, the script later moved the day high at 25.65, down -0.76%. The company’s stock has a 5-day price change of 7.85% and 46.10% over the past three months. ALKT shares are trading 2.60% year to date (YTD), with the 12-month market performance up to 68.91% higher. It has a 12-month low price of $10.93 and touched a high of $25.40 over the same period. ALKT has an average intraday trading volume of 416.49K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.23%, 9.87%, and 43.47% respectively.
Institutional ownership of Alkami Technology Inc (NASDAQ: ALKT) shares accounts for 32.49% of the company’s 92.11M shares outstanding. Mutual fund holders own 88.61%, while other institutional holders and individual stakeholders account for 9.41% and 23.31% respectively.
It has a market capitalization of $2.37B and a beta (3y monthly) value of 0.40. The earnings-per-share (ttm) stands at -$0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.53% over the week and 3.28% over the month.
Analysts forecast that Alkami Technology Inc (ALKT) will achieve an EPS of $0.02 for the current quarter, $0.02 for the next quarter and $0.16 for 2024. The lowest estimate earnings-per-share for the quarter is $0.01 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 82.21%, and 496.85% over the next financial year.
Looking at the support for the ALKT, a number of firms have released research notes about the stock. Stephens stated their Equal-Weight rating for the stock in a research note on December 07, 2023, with the firm’s price target at $22-$24.
