Hillsdale Investment Management Inc. Buys 110,780 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Hillsdale Investment Management Inc. grew its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 46,158.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,020 shares of the company's stock after buying an additional 110,780 shares during the quarter. Hillsdale Investment Management Inc. owned 0.11% of Alkami Technology worth $4,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ALKT. JPMorgan Chase & Co. grew its holdings in Alkami Technology by 474.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock valued at $11,971,000 after buying an additional 313,478 shares in the last quarter. FMR LLC raised its stake in shares of Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company's stock worth $48,059,000 after acquiring an additional 141,319 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock worth $38,865,000 after purchasing an additional 173,394 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Alkami Technology during the 3rd quarter valued at about $875,000. Finally, Diversified Trust Co bought a new position in shares of Alkami Technology in the fourth quarter worth approximately $595,000. Hedge funds and other institutional investors own 54.97% of the company's stock.

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Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 in the company, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,767 shares of company stock valued at $4,004,934 in the last ninety days. Insiders own 25.90% of the company's stock.

Analyst Ratings Changes

ALKT has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. 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, March 13th. The Goldman Sachs Group reduced their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, Barclays lowered their price objective on 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Alkami Technology Trading Down 2.2 %

Shares of ALKT stock traded down $0.61 during trading on Thursday, hitting $26.87. 809,818 shares of the stock traded hands, compared to its average volume of 692,128. The firm's fifty day moving average price is $31.19 and its 200-day moving average price is $34.33. The firm has a market capitalization of $2.75 billion, a P/E ratio of -57.17 and a beta of 0.49. Alkami Technology, Inc. has a 52-week low of $22.65 and a 52-week high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The business had revenue of $89.66 million for the quarter, compared to analyst estimates 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, research analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

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.