Alkami Technology, Inc. (NASDAQ:ALKT) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 37.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,355,020 shares of the company’s stock after purchasing an additional 368,585 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Alkami Technology were worth $49,702,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new position in shares of Alkami Technology in the 4th quarter valued at $34,000. Blue Trust Inc. boosted its holdings in 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 last quarter. Stifel Financial Corp purchased a new stake in Alkami Technology during the third quarter valued at about $223,000. Atria Investments Inc acquired a new stake in Alkami Technology during the fourth quarter worth about $239,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Alkami Technology by 10.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after purchasing an additional 615 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at $13,703,354.20. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,767 shares of company stock valued at $4,004,934 in the last three months. Corporate insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

Alkami Technology stock opened at $26.53 on Wednesday. Alkami Technology, Inc. has a 12-month low of $22.65 and a 12-month high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -56.45 and a beta of 0.49. The firm’s fifty day moving average price is $30.47 and its 200 day moving average price is $34.28.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). The business had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. On average, research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ALKT shares. Barclays decreased their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. lifted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

About Alkami Technology

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.