Arrowstreet Capital Limited Partnership Increases Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Arrowstreet Capital Limited Partnership lifted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 37.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,355,020 shares of the company's stock after purchasing an additional 368,585 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.35% of Alkami Technology worth $49,702,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 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 $132,526.78. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the company's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares in the company, valued at $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,767 shares of company stock valued at $4,004,934 in the last quarter. 38.00% of the stock is currently owned by corporate insiders.

Alkami Technology Stock Performance

NASDAQ ALKT traded down $1.68 on Friday, hitting $23.49. 1,274,672 shares of the stock traded hands, compared to its average volume of 735,524. 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 business's fifty day moving average is $29.86 and its two-hundred day moving average is $34.16. Alkami Technology, Inc. has a 12 month low of $23.08 and a 12 month high of $42.29. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -49.98 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company 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%. As a group, equities analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a research report on Thursday, March 13th. Finally, Barclays dropped their target price on shares of Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating on the stock 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. According to MarketBeat.com, Alkami Technology has a consensus rating of "Moderate Buy" and an average target price of $41.00.

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.