KLP Kapitalforvaltning AS Invests $400,000 in Alkami Technology, Inc. (NASDAQ:ALKT)

KLP Kapitalforvaltning AS bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,900 shares of the company's stock, valued at approximately $400,000.

A number of other hedge funds also recently modified their holdings of ALKT. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology during the fourth quarter worth about $34,000. Blue Trust Inc. boosted its position in shares of Alkami Technology by 162.6% during the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after acquiring an additional 1,974 shares in the last quarter. Stifel Financial Corp bought a new position in Alkami Technology in the third quarter valued at approximately $223,000. Atria Investments Inc acquired a new position in Alkami Technology during the fourth quarter valued at approximately $239,000. Finally, Harbor Capital Advisors Inc. lifted its stake in Alkami Technology by 10.1% during the fourth 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 last quarter. Institutional investors own 54.97% of the company's stock.

Insider Buying and Selling

In other news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction 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 sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 353,841 shares of the company's stock, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,767 shares of company stock worth $4,004,934. 38.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALKT. The Goldman Sachs Group lowered their price objective on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a report on Thursday, March 13th. Finally, 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 research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Alkami Technology Stock Up 10.6 %

Shares of NASDAQ ALKT traded up $2.38 during trading on Wednesday, hitting $24.92. The stock had a trading volume of 2,846,106 shares, compared to its average volume of 762,958. The firm has a fifty day moving average of $28.65 and a two-hundred day moving average of $33.85. The company has a market capitalization of $2.57 billion, a PE ratio of -53.02 and a beta of 0.56. 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 12 month low of $21.70 and a 12 month high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings data 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). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. As a group, equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

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.