Wasatch Advisors LP Increases Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Wasatch Advisors LP lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 16.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,586,789 shares of the company’s stock after purchasing an additional 225,992 shares during the period. Wasatch Advisors LP owned about 1.58% of Alkami Technology worth $58,203,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ALKT. Jump Financial LLC grew its holdings in Alkami Technology by 124.9% in the 4th quarter. Jump Financial LLC now owns 116,647 shares of the company’s stock worth $4,279,000 after acquiring an additional 64,772 shares during the last quarter. Mariner LLC raised its position in Alkami Technology by 25.3% during the 4th quarter. Mariner LLC now owns 8,080 shares of the company’s stock valued at $296,000 after purchasing an additional 1,630 shares during the last quarter. Barclays PLC increased its stake in shares of Alkami Technology by 2.4% during the fourth quarter. Barclays PLC now owns 97,716 shares of the company’s stock valued at $3,584,000 after buying an additional 2,325 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Alkami Technology by 28.7% during the fourth 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 in the last quarter. Finally, Bessemer Group Inc. purchased a new stake in Alkami Technology in the fourth quarter worth $907,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Performance

ALKT stock opened at $24.95 on Wednesday. The stock’s 50 day simple moving average is $27.77 and its 200 day simple moving average is $33.67. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month 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 stock has a market capitalization of $2.57 billion, a PE ratio of -53.09 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT) last released 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 business had revenue of $89.66 million during 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%. As a group, research analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 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 value of $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 38.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALKT shares. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a report on Thursday, March 13th. The Goldman Sachs Group cut their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, Barclays dropped their price target on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.38.

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.