Y Intercept Hong Kong Ltd purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,700 shares of the company's stock, valued at approximately $723,000.
A number of other hedge funds have also recently added to or reduced their stakes in ALKT. Blue Trust Inc. lifted its holdings in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after buying an additional 1,014 shares during the period. US Bancorp DE purchased a new position in Alkami Technology in the third quarter worth $259,000. Harbor Capital Advisors Inc. lifted its holdings in Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company's stock valued at $193,000 after acquiring an additional 691 shares during the period. Arlington Capital Management Inc. boosted its position in shares of Alkami Technology by 3.5% during the 3rd quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company's stock worth $2,239,000 after purchasing an additional 2,417 shares in the last quarter. Finally, Olympiad Research LP acquired a new position in shares of Alkami Technology during the 3rd quarter worth $429,000. Institutional investors and hedge funds own 54.97% of the company's stock.
Insider Activity
In other news, insider Douglas A. Linebarger sold 50,000 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the transaction, the insider now owns 191,668 shares of the company's stock, valued at approximately $7,676,303.40. The trade was a 20.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,000 shares of company stock worth $9,322,500. 38.00% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts recently commented on ALKT shares. The Goldman Sachs Group reduced their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday. Barclays dropped their target price on shares of Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $41.14.
Get Our Latest Stock Analysis on Alkami Technology
Alkami Technology Stock Down 1.0 %
NASDAQ:ALKT traded down $0.31 during mid-day trading on Tuesday, hitting $29.26. The company had a trading volume of 585,920 shares, compared to its average volume of 584,043. The business has a fifty day simple moving average of $34.67 and a 200-day simple moving average of $35.04. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -62.30 and a beta of 0.47. Alkami Technology, Inc. has a 1 year low of $22.65 and a 1 year high of $42.29. 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 (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 net margin of 14.55% and a negative return on equity of 11.31%. Equities analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.
About Alkami Technology
(
Free Report)
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.
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