201,810 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Bought by Pamalican Asset Management Ltd

Pamalican Asset Management Ltd purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 201,810 shares of the company's stock, valued at approximately $7,402,000. Alkami Technology comprises approximately 3.3% of Pamalican Asset Management Ltd's holdings, making the stock its 9th largest holding. Pamalican Asset Management Ltd owned 0.20% of Alkami Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have 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 about $34,000. Blue Trust Inc. increased its position in Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after buying an additional 1,974 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Alkami Technology in the 4th quarter worth approximately $216,000. Stifel Financial Corp bought a new stake in shares of Alkami Technology during the 3rd quarter worth $223,000. Finally, Atria Investments Inc bought a new stake in Alkami Technology during the fourth quarter valued at about $239,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a research report on Thursday, March 13th. Barclays decreased their price objective on Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Alkami Technology Trading Down 0.3 %

Shares of ALKT traded down $0.08 during trading hours on Wednesday, hitting $22.47. 1,169,654 shares of the stock were exchanged, compared to its average volume of 754,344. The firm has a market capitalization of $2.31 billion, a P/E ratio of -47.49 and a beta of 0.56. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The business has a 50-day moving average of $29.07 and a 200-day moving average of $33.95.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. On average, research analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Activity

In related news, insider Douglas A. Linebarger sold 4,358 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were 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 of the company's stock, valued at $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,767 shares of company stock valued at $4,004,934. Insiders own 38.00% of the company's stock.

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.