Legato Capital Management LLC Grows Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Legato Capital Management LLC grew its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 46.7% during the 4th quarter, HoldingsChannel reports. The fund owned 46,240 shares of the company’s stock after purchasing an additional 14,722 shares during the period. Legato Capital Management LLC’s holdings in Alkami Technology were worth $1,696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Entropy Technologies LP purchased a new stake in shares of Alkami Technology in the fourth quarter valued at $341,000. Calamos Advisors LLC purchased a new stake in shares of Alkami Technology in the fourth quarter valued at $2,269,000. Hodges Capital Management Inc. raised its stake in shares of Alkami Technology by 1.6% in the fourth quarter. Hodges Capital Management Inc. now owns 211,570 shares of the company’s stock valued at $7,760,000 after acquiring an additional 3,337 shares during the period. Blue Trust Inc. raised its stake in shares of Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after acquiring an additional 1,974 shares during the period. Finally, Dakota Wealth Management purchased a new stake in shares of Alkami Technology in the fourth quarter valued at $518,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 43,336 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $38.50, for a total transaction of $1,668,436.00. Following the completion of the sale, the insider now owns 248,585 shares in the company, valued at $9,570,522.50. This represents a 14.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,636,639 shares of company stock worth $143,586,172 in the last three months. Corporate insiders own 38.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALKT. The Goldman Sachs Group increased their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Craig Hallum upped their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC upped their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Barclays upped their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Alkami Technology Stock Down 4.4 %

Shares of Alkami Technology stock opened at $33.74 on Wednesday. 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 1 year low of $22.65 and a 1 year high of $42.29. The firm’s 50-day moving average is $36.86 and its two-hundred day moving average is $35.11. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -71.79 and a beta of 0.47.

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.