General Atlantic L.P. Has $353.79 Million Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

General Atlantic L.P. lessened its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 37.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,645,318 shares of the company's stock after selling 5,875,000 shares during the period. Alkami Technology accounts for approximately 12.6% of General Atlantic L.P.'s portfolio, making the stock its 3rd largest holding. General Atlantic L.P. owned approximately 9.60% of Alkami Technology worth $353,790,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Essex Investment Management Co. LLC acquired a new position in shares of Alkami Technology in the fourth quarter valued at approximately $34,000. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock valued at $37,000 after buying an additional 631 shares during the last quarter. Covestor Ltd raised its position in shares of Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company's stock valued at $85,000 after buying an additional 2,646 shares during the last quarter. Blue Trust Inc. raised its position in shares of Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after buying an additional 1,974 shares during the last quarter. Finally, Icon Wealth Advisors LLC acquired a new position in shares of Alkami Technology in the third quarter valued at approximately $155,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Remove Ads

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares of the company's stock, valued at approximately $14,072,256.57. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 directly owns 244,404 shares of the company's stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 221,767 shares of company stock valued at $7,981,934. Insiders own 38.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective 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. The Goldman Sachs Group decreased their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Barclays dropped 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. Finally, Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a report on Thursday. 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, Alkami Technology presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Alkami Technology Trading Up 0.0 %

Shares of Alkami Technology stock traded up $0.01 during trading hours on Friday, reaching $25.26. The stock had a trading volume of 1,858,604 shares, compared to its average volume of 649,254. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1 year low of $22.65 and a 1 year high of $42.29. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -53.74 and a beta of 0.49. The firm has a 50 day simple moving average of $32.79 and a two-hundred day simple moving average of $34.68.

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 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 company had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. As a group, equities research analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share 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.