Lisanti Capital Growth LLC Sells 27,890 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Lisanti Capital Growth LLC cut its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 20.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,065 shares of the company's stock after selling 27,890 shares during the period. Lisanti Capital Growth LLC owned about 0.11% of Alkami Technology worth $3,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALKT. Jump Financial LLC grew its holdings in shares of Alkami Technology by 138.3% during the fourth quarter. Jump Financial LLC now owns 55,767 shares of the company's stock worth $1,352,000 after purchasing an additional 32,367 shares during the last quarter. Wasatch Advisors LP acquired a new stake in Alkami Technology in the 1st quarter valued at about $37,178,000. Trexquant Investment LP bought a new position in shares of Alkami Technology in the fourth quarter worth about $1,094,000. Quest Partners LLC bought a new position in shares of Alkami Technology in the fourth quarter worth about $113,000. Finally, Swiss National Bank lifted its position in shares of Alkami Technology by 1.3% during the first quarter. Swiss National Bank now owns 84,700 shares of the company's stock worth $2,081,000 after purchasing an additional 1,100 shares in the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Stephen Bohanon sold 22,171 shares of Alkami Technology stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $26.88, for a total transaction of $595,956.48. Following the transaction, the insider now owns 407,940 shares in the company, valued at approximately $10,965,427.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Stephen Bohanon sold 22,171 shares of the firm's stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $26.88, for a total transaction of $595,956.48. Following the sale, the insider now directly owns 407,940 shares in the company, valued at $10,965,427.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the company's stock in a transaction on Monday, June 17th. The stock was sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the completion of the transaction, the chief financial officer now directly owns 489,340 shares of the company's stock, valued at $12,585,824.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,608,348 shares of company stock valued at $111,982,932. 38.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALKT. Barclays raised their price target on shares of Alkami Technology from $31.00 to $35.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Needham & Company LLC lifted their target price on Alkami Technology from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Craig Hallum upped their price target on Alkami Technology from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. JMP Securities raised their price target on Alkami Technology from $35.00 to $38.00 and gave the company a "market outperform" rating in a report on Thursday, August 1st. Finally, Lake Street Capital boosted their price objective on Alkami Technology from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $33.89.

Alkami Technology Trading Down 0.5 %

Shares of ALKT stock traded down $0.16 on Friday, reaching $33.34. The company had a trading volume of 707,141 shares, compared to its average volume of 684,898. The stock has a market cap of $3.25 billion, a PE ratio of -55.57 and a beta of 0.47. The company has a 50-day moving average of $31.46 and a 200-day moving average of $27.46. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 12 month low of $16.49 and a 12 month high of $36.00.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The business's quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. On average, equities analysts forecast that Alkami Technology, Inc. will post -0.36 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.