Quantbot Technologies LP Acquires 36,602 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Quantbot Technologies LP lifted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 410.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,517 shares of the company's stock after acquiring an additional 36,602 shares during the period. Quantbot Technologies LP's holdings in Alkami Technology were worth $1,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology in the fourth quarter worth $34,000. Advisors Asset Management Inc. raised its stake in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after buying an additional 631 shares during the period. Blue Trust Inc. boosted its holdings in Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after acquiring an additional 1,974 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Alkami Technology during the third quarter valued at approximately $155,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Alkami Technology during the third quarter valued at approximately $203,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Down 1.7 %

Alkami Technology stock traded down $0.46 during midday trading on Friday, hitting $26.41. 1,207,994 shares of the stock were exchanged, compared to its average volume of 718,553. Alkami Technology, Inc. has a 52-week low of $22.65 and a 52-week high of $42.29. 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 $31.02 and its 200-day moving average price is $34.28. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -56.19 and a beta of 0.49.

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Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The business had revenue of $89.66 million during 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 fiscal year.

Analyst Upgrades and Downgrades

ALKT has been the subject of several research reports. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. lifted their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, December 9th. The Goldman Sachs Group lowered their target price on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Finally, Barclays cut their price target on Alkami Technology from $41.00 to $35.00 and set an "equal weight" 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 given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Insider Activity

In other news, CFO W Bryan Hill sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the sale, the chief financial officer now owns 353,841 shares in the company, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology 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 $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,767 shares of company stock valued at $4,004,934 in the last ninety days. 25.90% of the stock is currently owned by insiders.

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.