Canada Pension Plan Investment Board Acquires New Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Canada Pension Plan Investment Board purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 43,800 shares of the company's stock, valued at approximately $1,607,000.

Other large investors have also recently bought and sold shares of the company. Essex Investment Management Co. LLC acquired a new position in shares of Alkami Technology during the 4th quarter valued at $34,000. Blue Trust Inc. raised its holdings in shares of Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after purchasing an additional 1,974 shares during the period. Bank of Montreal Can acquired a new position in shares of Alkami Technology during the fourth quarter valued at about $203,000. Summit Investment Advisors Inc. boosted its position in shares of Alkami Technology by 28.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock worth $204,000 after purchasing an additional 1,238 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Alkami Technology in the 4th quarter valued at about $216,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Douglas A. Linebarger sold 4,358 shares of the firm'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 of the company's stock, 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 the SEC website. 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 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. 18.10% of the stock is currently owned by corporate insiders.

Alkami Technology Stock Up 1.3 %

Shares of NASDAQ ALKT traded up $0.34 during trading on Friday, hitting $26.87. The stock had a trading volume of 702,491 shares, compared to its average volume of 809,652. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a fifty day moving average of $26.46 and a two-hundred day moving average of $33.29. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The company has a market capitalization of $2.77 billion, a PE ratio of -57.17 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million during the quarter, compared to analysts' expectations of $89.63 million. As a group, equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALKT. Barclays cut their price target on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group cut their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.38.

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.