Wasatch Advisors LP Purchases 225,992 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Wasatch Advisors LP raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586,789 shares of the company's stock after acquiring an additional 225,992 shares during the period. Wasatch Advisors LP owned approximately 1.58% of Alkami Technology worth $58,203,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Essex Investment Management Co. LLC acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $34,000. Blue Trust Inc. grew 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 buying an additional 1,974 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Alkami Technology in the fourth quarter valued at $203,000. Summit Investment Advisors Inc. lifted its position in shares of Alkami Technology by 28.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock valued at $204,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Alkami Technology during the 4th quarter worth $216,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Stock Down 3.9 %

ALKT traded down $0.96 during midday trading on Monday, hitting $23.79. 212,009 shares of the company's stock traded hands, compared to its average volume of 795,350. 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 company has a market cap of $2.45 billion, a PE ratio of -50.62 and a beta of 0.56. Alkami Technology, Inc. has a one year low of $21.70 and a one year high of $42.29. The stock's fifty day simple moving average is $27.18 and its 200-day simple moving average is $33.55.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued 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). 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 during the quarter, compared to the consensus estimate of $89.63 million. As a group, equities analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALKT has been the subject of several analyst reports. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a report on Thursday, March 13th. The Goldman Sachs Group cut their price target 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 target price on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.38.

Insider Buying and Selling

In other news, 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 sale, the insider now owns 244,404 shares of the company's stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the transaction, the chief financial officer now directly owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.10% of the stock is owned by insiders.

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.