69,204 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 69,204 shares of the company's stock, valued at approximately $2,538,000. Edgestream Partners L.P. owned about 0.07% of Alkami Technology as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. US Bancorp DE purchased a new stake in Alkami Technology in the third quarter valued at $259,000. Principal Financial Group Inc. acquired a new stake in shares of Alkami Technology in the 3rd quarter valued at about $875,000. Covestor Ltd grew its stake in Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company's stock worth $85,000 after buying an additional 2,646 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Alkami Technology during the 3rd quarter worth approximately $203,000. Finally, Victory Capital Management Inc. acquired a new position in Alkami Technology during the third quarter worth approximately $979,000. Hedge funds and other institutional investors own 54.97% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALKT shares. Barclays decreased their price objective 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. The Goldman Sachs Group lowered their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Stephens upgraded 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 note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

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Alkami Technology Price Performance

Shares of Alkami Technology stock traded up $0.97 during trading on Thursday, reaching $25.25. The company's stock had a trading volume of 2,450,637 shares, compared to its average volume of 642,959. The business has a 50 day moving average price of $33.02 and a 200-day moving average price of $34.75. Alkami Technology, Inc. has a 12-month low of $22.65 and a 12-month high of $42.29. The company has a market capitalization of $2.58 billion, a P/E ratio of -53.72 and a beta of 0.49. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced 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). 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 for the quarter, compared to analysts' expectations of $89.63 million. As a group, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the company's 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 completion of the sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,767 shares of company stock valued at $7,981,934 over the last three months. 38.00% of the stock is currently owned by insiders.

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.