Nicholas Investment Partners LP Grows Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Nicholas Investment Partners LP grew its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 46.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,013 shares of the company’s stock after buying an additional 63,758 shares during the quarter. Nicholas Investment Partners LP’s holdings in Alkami Technology were worth $7,336,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ALKT. Essex Investment Management Co. LLC acquired a new stake in Alkami Technology during the 4th quarter valued at $34,000. Quarry LP purchased a new stake in Alkami Technology during the 4th quarter worth about $61,000. Blue Trust Inc. raised its stake in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after purchasing an additional 1,974 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Alkami Technology by 73.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company’s stock valued at $148,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Alkami Technology during the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Lake Street Capital decreased their price target on Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC dropped their target price on Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. JMP Securities reiterated a “market outperform” rating and set a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Finally, Barclays decreased their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.88.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT opened at $31.19 on Wednesday. The firm has a market cap of $3.21 billion, a PE ratio of -66.36 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. The business has a fifty day moving average of $25.98 and a 200-day moving average of $32.64.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. On average, equities research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at $13,703,354.20. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.10% of the company’s stock.

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.