Alkami Technology, Inc. (NASDAQ:ALKT) Stock Holdings Lessened by Long Path Partners LP

Long Path Partners LP decreased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 19.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 169,498 shares of the company's stock after selling 41,250 shares during the period. Alkami Technology accounts for about 2.0% of Long Path Partners LP's portfolio, making the stock its 10th largest position. Long Path Partners LP owned 0.17% of Alkami Technology worth $6,217,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALKT. Essex Investment Management Co. LLC purchased a new stake in Alkami Technology during the fourth quarter valued at approximately $34,000. Blue Trust Inc. boosted its stake in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after purchasing an additional 1,974 shares in the last quarter. Atria Investments Inc purchased a new stake in Alkami Technology during the 4th quarter worth approximately $239,000. Harbor Capital Advisors Inc. increased its stake in Alkami Technology by 10.1% during the 4th 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. Finally, Stifel Financial Corp purchased a new position in shares of Alkami Technology in the third quarter worth $223,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. increased their price target 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. Barclays decreased their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group dropped 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Alkami Technology Price Performance

ALKT stock traded up $0.37 during midday trading on Tuesday, reaching $23.21. The stock had a trading volume of 488,580 shares, compared to its average volume of 743,118. 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 fifty day simple moving average is $29.61 and its 200 day simple moving average is $34.10. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -49.61 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released 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). The company had revenue of $89.66 million during the quarter, compared to analysts' expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. As a group, sell-side analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology 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 sale, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction 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 transaction, the chief financial officer now owns 450,620 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 121,767 shares of company stock worth $4,004,934. 38.00% of the stock is currently owned by insiders.

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.