Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by General Atlantic L.P.

General Atlantic L.P. lessened its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 37.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,645,318 shares of the company’s stock after selling 5,875,000 shares during the period. Alkami Technology makes up 12.6% of General Atlantic L.P.’s portfolio, making the stock its 3rd biggest position. General Atlantic L.P. owned about 9.60% of Alkami Technology worth $353,790,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC bought a new stake in Alkami Technology during the fourth quarter worth about $34,000. Advisors Asset Management Inc. grew its stake 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 buying an additional 631 shares during the last quarter. Covestor Ltd grew its stake in Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after buying an additional 2,646 shares during the last quarter. Blue Trust Inc. grew its stake in Alkami Technology by 162.6% during 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. Finally, Icon Wealth Advisors LLC bought a new stake in Alkami Technology during the third quarter worth about $155,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Trading Down 12.6 %

Shares of Alkami Technology stock opened at $23.87 on Tuesday. 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. The firm has a market capitalization of $2.44 billion, a PE ratio of -50.79 and a beta of 0.49. The firm’s 50 day moving average is $33.53 and its 200 day moving average is $34.89.

Alkami Technology (NASDAQ:ALKT) 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 firm had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Equities research analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the 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 $11,828,904.63. This represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 50,000 shares of the firm’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 sale, the insider now owns 191,668 shares in the company, valued at approximately $7,676,303.40. This trade represents a 20.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 271,767 shares of company stock valued at $9,984,434 in the last three months. Company insiders own 38.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALKT. Barclays decreased 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 research note on Monday, March 3rd. JPMorgan Chase & Co. increased 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. Finally, The Goldman Sachs Group cut their price objective 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.14.

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.