Legato Capital Management LLC Buys 14,722 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Legato Capital Management LLC lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 46.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,240 shares of the company’s stock after acquiring an additional 14,722 shares during the quarter. Legato Capital Management LLC’s holdings in Alkami Technology were worth $1,696,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ALKT. Entropy Technologies LP purchased a new position in shares of Alkami Technology in the fourth quarter worth approximately $341,000. Calamos Advisors LLC purchased a new position in shares of Alkami Technology in the fourth quarter worth approximately $2,269,000. Hodges Capital Management Inc. boosted its holdings 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 worth $7,760,000 after buying an additional 3,337 shares during the last quarter. Blue Trust Inc. boosted its holdings 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 worth $117,000 after buying an additional 1,974 shares during the last quarter. Finally, Dakota Wealth Management purchased a new position in shares of Alkami Technology in the fourth quarter worth approximately $518,000. 54.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ALKT shares. Barclays raised their price objective 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. JPMorgan Chase & Co. lifted their price target 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. 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 research 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 research report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $33.74 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a fifty day moving average price of $36.86 and a 200 day moving average price of $35.11. Alkami Technology, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -71.79 and a beta of 0.47.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the sale, the chief financial officer now owns 353,841 shares of the company’s stock, valued at $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the sale, the director now directly owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. The trade was a 23.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,636,639 shares of company stock worth $143,586,172. 38.00% of the stock is owned by insiders.

Alkami Technology 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.