Burkehill Global Management LP Invests $12.84 Million in Alkami Technology, Inc. (NASDAQ:ALKT)

Burkehill Global Management LP acquired a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 350,000 shares of the company's stock, valued at approximately $12,838,000. Alkami Technology comprises 1.2% of Burkehill Global Management LP's investment portfolio, making the stock its 25th biggest holding. Burkehill Global Management LP owned 0.35% of Alkami Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. lifted its position in Alkami Technology by 4.4% during the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company's stock valued at $61,364,000 after purchasing an additional 75,469 shares during the last quarter. FMR LLC increased its position in Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company's stock valued at $48,059,000 after acquiring an additional 141,319 shares during the last quarter. Geode Capital Management LLC increased its position in Alkami Technology by 16.4% during the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock valued at $38,865,000 after acquiring an additional 173,394 shares during the last quarter. State Street Corp increased its position in Alkami Technology by 5.1% during the third quarter. State Street Corp now owns 1,088,408 shares of the company's stock valued at $34,328,000 after acquiring an additional 52,699 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Alkami Technology by 12.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 599,201 shares of the company's stock valued at $21,979,000 after acquiring an additional 64,826 shares during the last quarter. Institutional investors own 54.97% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of research firms have weighed in on ALKT. 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 report on Thursday. 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 cut 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. Finally, Barclays cut their price objective 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Alkami Technology Stock Up 0.0 %

Shares of ALKT traded up $0.01 during midday trading on Friday, reaching $25.26. 1,858,604 shares of the stock were exchanged, compared to its average volume of 651,055. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week 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 company's 50 day moving average is $32.54 and its two-hundred day moving average is $34.63. The company has a market capitalization of $2.58 billion, a P/E ratio of -53.74 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly 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 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 the consensus estimate of $89.63 million. On average, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the business's stock in a transaction on Monday, March 3rd. The stock was 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 approximately $7,432,325.64. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO W Bryan Hill sold 100,000 shares of the business's stock in a transaction on 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,767 shares of company stock valued at $7,981,934. 38.00% of the stock is currently owned by corporate insiders.

About Alkami Technology

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.