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

Arrowstreet Capital Limited Partnership grew its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 37.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,355,020 shares of the company’s stock after acquiring an additional 368,585 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.35% of Alkami Technology worth $49,702,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Essex Investment Management Co. LLC purchased a new stake in Alkami Technology during the 4th quarter valued at approximately $34,000. Blue Trust Inc. raised its stake in shares of Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after purchasing an additional 1,974 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of Alkami Technology during the third quarter worth approximately $223,000. Atria Investments Inc acquired a new stake in shares of Alkami Technology during the fourth quarter worth $239,000. Finally, Harbor Capital Advisors Inc. grew its position in Alkami Technology by 10.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock valued at $247,000 after buying an additional 615 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALKT shares. Barclays reduced their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. lifted their price target on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Alkami Technology Stock Up 1.1 %

ALKT opened at $26.53 on Wednesday. Alkami Technology, Inc. has a one year low of $22.65 and a one year high of $42.29. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -56.45 and a beta of 0.49. The business’s fifty day moving average is $30.47 and its two-hundred day moving average is $34.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 17,409 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 $529,407.69. Following the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 244,404 shares of the company’s stock, valued at $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,767 shares of company stock valued at $4,004,934. Corporate insiders own 38.00% of the company’s stock.

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.