Alkami Technology, Inc. (NASDAQ:ALKT) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 139.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,900 shares of the company's stock after purchasing an additional 58,157 shares during the quarter. Renaissance Technologies LLC owned approximately 0.10% of Alkami Technology worth $3,664,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of Alkami Technology by 353.1% during the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company's stock worth $53,411,000 after buying an additional 1,134,746 shares during the last quarter. Bank of Montreal Can purchased a new stake in Alkami Technology in the fourth quarter valued at $203,000. Federated Hermes Inc. lifted its position in Alkami Technology by 1.4% in the fourth quarter. Federated Hermes Inc. now owns 200,285 shares of the company's stock valued at $7,346,000 after acquiring an additional 2,856 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Alkami Technology by 123.2% in the fourth quarter. Russell Investments Group Ltd. now owns 121,718 shares of the company's stock valued at $4,465,000 after acquiring an additional 67,194 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Alkami Technology during the fourth quarter worth about $305,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALKT has been the subject of several research reports. The Goldman Sachs Group reduced their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Barclays reduced their price objective on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.38.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the sale, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. 18.10% of the stock is owned by corporate insiders.

Alkami Technology Trading Up 4.6 %

NASDAQ:ALKT opened at $25.10 on Wednesday. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month high of $42.29. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock's 50 day simple moving average is $26.85 and its 200-day simple moving average is $33.42. The firm has a market cap of $2.59 billion, a P/E ratio of -53.40 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced 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). The firm had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Equities analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current 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.

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