Free Trial

Taylor Frigon Capital Management LLC Invests $2.58 Million in Alkami Technology, Inc. (NASDAQ:ALKT)

Alkami Technology logo with Computer and Technology background

Taylor Frigon Capital Management LLC acquired a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 81,758 shares of the company's stock, valued at approximately $2,579,000. Alkami Technology comprises approximately 1.3% of Taylor Frigon Capital Management LLC's portfolio, making the stock its 27th largest holding. Taylor Frigon Capital Management LLC owned 0.08% of Alkami Technology as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Park Place Capital Corp acquired a new stake in Alkami Technology in the 3rd quarter worth about $28,000. Blue Trust Inc. boosted its stake in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock worth $38,000 after buying an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Alkami Technology in the 2nd quarter worth about $40,000. Perkins Coie Trust Co acquired a new stake in Alkami Technology in the 2nd quarter worth about $85,000. Finally, nVerses Capital LLC acquired a new stake in Alkami Technology in the 2nd quarter worth about $88,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ALKT shares. Barclays raised their price target on Alkami Technology from $31.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 1st. Lake Street Capital raised their price target on Alkami Technology from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on Alkami Technology from $28.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. Needham & Company LLC lifted their price objective on Alkami Technology from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Craig Hallum lifted their price objective on Alkami Technology from $31.00 to $38.00 and gave the company a "buy" rating in a research note 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, Alkami Technology has an average rating of "Moderate Buy" and a consensus target price of $33.89.

View Our Latest Stock Analysis on ALKT

Alkami Technology Stock Down 0.3 %

Shares of NASDAQ:ALKT traded down $0.13 during mid-day trading on Thursday, hitting $38.05. 985,426 shares of the company traded hands, compared to its average volume of 452,408. The firm has a market cap of $3.71 billion, a P/E ratio of -65.08 and a beta of 0.46. 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 52-week low of $17.32 and a 52-week high of $39.48. The firm's 50 day simple moving average is $32.32 and its 200 day simple moving average is $29.55.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced 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 business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The company's revenue was up 24.9% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. On average, equities analysts anticipate that Alkami Technology, Inc. will post -0.36 EPS for the current year.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the sale, the director now directly owns 15,555,049 shares in the company, valued at $484,850,877.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alkami Technology news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the sale, the director now directly owns 784,549 shares in the company, valued at $24,454,392.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction that occurred on 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 sale, the director now owns 15,555,049 shares in the company, valued at $484,850,877.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,648,416 shares of company stock worth $113,920,758 in the last three months. 38.00% of the stock is owned by insiders.

Alkami Technology Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Alkami Technology (NASDAQ:ALKT)

Should you invest $1,000 in Alkami Technology right now?

Before you consider Alkami Technology, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alkami Technology wasn't on the list.

While Alkami Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The 10 Best AI Stocks to Own in 2024 Cover

Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings: Can Blackwell Propel the Stock to $200+ in 2025?
These Top Stocks in 2024 Will Continue to be Big Winners in 2025
’Best Report in 2 Years’: NVIDIA Earnings Crushes Expectations Again

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines