Alkami Technology, Inc. (NASDAQ:ALKT) Shares Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. raised its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 24.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 211,500 shares of the company's stock after acquiring an additional 40,949 shares during the quarter. Hodges Capital Management Inc. owned 0.22% of Alkami Technology worth $6,024,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ALKT. Capital International Investors grew its holdings in shares of Alkami Technology by 15.6% in the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company's stock worth $113,488,000 after acquiring an additional 632,061 shares during the period. Vanguard Group Inc. increased its position in shares of Alkami Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company's stock valued at $114,264,000 after buying an additional 88,390 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Alkami Technology in the first quarter valued at $37,178,000. The Manufacturers Life Insurance Company raised its stake in shares of Alkami Technology by 3,727.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 854,379 shares of the company's stock worth $20,719,000 after buying an additional 832,059 shares during the last quarter. Finally, Scalar Gauge Management LLC purchased a new stake in shares of Alkami Technology in the 4th quarter worth about $20,694,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $31.17, for a total value of $51,950,010.39. Following the transaction, the director now directly owns 15,555,049 shares in the company, valued at approximately $484,850,877.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Stephen Bohanon sold 35,893 shares of the company's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the completion of the sale, the insider now directly owns 403,786 shares of the company's stock, valued at approximately $13,567,209.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,950,010.39. Following the completion of the sale, the director now owns 15,555,049 shares of the company's stock, valued at $484,850,877.33. The disclosure for this sale can be found here. Insiders sold a total of 3,644,241 shares of company stock worth $113,188,937 in the last ninety days. Insiders own 38.00% of the company's stock.

Alkami Technology Trading Down 0.7 %

Alkami Technology stock traded down $0.22 during trading on Wednesday, hitting $31.49. The company's stock had a trading volume of 376,689 shares, compared to its average volume of 445,699. The stock's fifty day moving average is $31.80 and its 200 day moving average is $27.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. Alkami Technology, Inc. has a 1-year low of $16.49 and a 1-year high of $36.00. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -52.48 and a beta of 0.47.

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

Wall Street Analysts Forecast Growth

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

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.