Trexquant Investment LP Purchases 160,387 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Trexquant Investment LP boosted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 209.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 236,931 shares of the company's stock after purchasing an additional 160,387 shares during the quarter. Trexquant Investment LP owned about 0.24% of Alkami Technology worth $8,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ALKT. JPMorgan Chase & Co. lifted its stake in shares of Alkami Technology by 474.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock valued at $11,971,000 after purchasing an additional 313,478 shares during the period. FMR LLC grew its position in shares of Alkami Technology by 10.2% during the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company's stock worth $48,059,000 after buying an additional 141,319 shares during the period. Geode Capital Management LLC increased its stake in shares of Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock valued at $38,865,000 after acquiring an additional 173,394 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Alkami Technology in the 4th quarter valued at approximately $595,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alkami Technology by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company's stock valued at $16,854,000 after acquiring an additional 120,845 shares during the period. Institutional investors own 54.97% of the company's stock.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction on Monday, March 3rd. The shares were 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 $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on 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 sale, the chief financial officer now owns 353,841 shares of the company's stock, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,767 shares of company stock worth $4,004,934 over the last quarter. 38.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on ALKT. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a research note on Thursday, March 13th. Barclays reduced their target price on 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, 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 report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Alkami Technology has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Alkami Technology Stock Up 10.6 %

Shares of Alkami Technology stock traded up $2.38 during trading hours on Wednesday, reaching $24.92. 2,846,106 shares of the company's stock were exchanged, compared to its average volume of 762,959. The stock has a market cap of $2.57 billion, a P/E ratio of -53.02 and a beta of 0.56. The company has a 50 day moving average of $28.65 and a two-hundred day moving average of $33.85. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted 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). The company had revenue of $89.66 million for the quarter, compared to analyst estimates 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, sell-side analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

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.