North Reef Capital Management LP Sells 60,584 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

North Reef Capital Management LP decreased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 30.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 139,416 shares of the company's stock after selling 60,584 shares during the period. North Reef Capital Management LP owned approximately 0.14% of Alkami Technology worth $5,114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALKT. Bullseye Asset Management LLC boosted its position in shares of Alkami Technology by 4.7% in the 4th quarter. Bullseye Asset Management LLC now owns 89,842 shares of the company's stock worth $3,295,000 after purchasing an additional 4,016 shares during the last quarter. Nebula Research & Development LLC boosted its position in shares of Alkami Technology by 44.1% in the 4th quarter. Nebula Research & Development LLC now owns 40,762 shares of the company's stock worth $1,495,000 after purchasing an additional 12,465 shares during the last quarter. Van Den Berg Management I Inc. bought a new position in shares of Alkami Technology in the 4th quarter worth $223,000. Price T Rowe Associates Inc. MD boosted its position in shares of Alkami Technology by 152.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,564 shares of the company's stock worth $1,378,000 after purchasing an additional 22,706 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in shares of Alkami Technology in the 4th quarter worth $335,000. 54.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now owns 450,620 shares of the company's stock, valued at $13,703,354.20. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALKT shares. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a research report on Thursday, March 13th. Barclays reduced their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $40.38.

Alkami Technology Stock Down 2.8 %

Shares of NASDAQ:ALKT traded down $0.76 during midday trading on Monday, reaching $26.11. The company had a trading volume of 1,199,028 shares, compared to its average volume of 811,210. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The business's 50 day moving average price is $26.46 and its 200 day moving average price is $33.29. The stock has a market cap of $2.69 billion, a PE ratio of -55.55 and a beta of 0.56. Alkami Technology, Inc. has a 1-year low of $21.70 and a 1-year high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its 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 analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Alkami Technology 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.