Wasatch Advisors LP Increases Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Wasatch Advisors LP lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 16.6% during the 4th quarter, HoldingsChannel reports. The firm owned 1,586,789 shares of the company’s stock after acquiring an additional 225,992 shares during the quarter. Wasatch Advisors LP’s holdings in Alkami Technology were worth $58,203,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Essex Investment Management Co. LLC purchased a new position in shares of Alkami Technology in the fourth quarter valued at $34,000. Blue Trust Inc. lifted its position in Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after buying an additional 1,974 shares during the last quarter. Bank of Montreal Can purchased a new position in Alkami Technology during the fourth quarter worth $203,000. Summit Investment Advisors Inc. raised its stake in shares of Alkami Technology by 28.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock valued at $204,000 after acquiring an additional 1,238 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Alkami Technology in the 4th quarter worth about $216,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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 that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the transaction, the chief financial officer now owns 450,620 shares in the company, valued at $13,703,354.20. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’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 transaction of $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $24.95 on Wednesday. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The stock’s fifty day moving average price is $27.77 and its 200-day moving average price is $33.67. The firm has a market cap of $2.57 billion, a P/E ratio of -53.09 and a beta of 0.56. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ALKT shares. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research report on Thursday, March 13th. Barclays decreased their price target on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group decreased their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.38.

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.