Scalar Gauge Management LLC Has $2.69 Million Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Scalar Gauge Management LLC grew its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,422 shares of the company's stock after buying an additional 9,600 shares during the period. Alkami Technology accounts for about 1.2% of Scalar Gauge Management LLC's investment portfolio, making the stock its 21st biggest holding. Scalar Gauge Management LLC owned 0.07% of Alkami Technology worth $2,693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ALKT. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology during the 4th quarter worth about $34,000. Advisors Asset Management Inc. raised its holdings in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after purchasing an additional 631 shares in the last quarter. Blue Trust Inc. lifted its position 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 purchasing an additional 1,974 shares during the period. Icon Wealth Advisors LLC bought a new position in Alkami Technology during the 3rd quarter valued at $155,000. Finally, Stifel Financial Corp acquired a new position in shares of Alkami Technology during the 3rd quarter valued at $223,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports 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 report on Thursday, March 13th. The Goldman Sachs Group lowered their target price 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. Barclays cut their price target on shares of Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Remove Ads

Alkami Technology Trading Down 4.9 %

NASDAQ:ALKT traded down $1.22 during trading hours on Friday, hitting $23.95. The stock had a trading volume of 641,947 shares, compared to its average volume of 729,150. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -50.91 and a beta of 0.49. Alkami Technology, Inc. has a one year low of $22.86 and a one year high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The business's 50 day moving average is $30.10 and its 200-day moving average is $34.16.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction 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 transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the transaction, 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. In the last ninety days, insiders have sold 121,767 shares of company stock valued at $4,004,934. 38.00% of the stock is owned by company insiders.

About Alkami Technology

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.