Point72 Asset Management L.P. Buys New Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Point72 Asset Management L.P. purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 39,254 shares of the company’s stock, valued at approximately $1,440,000.

Several other hedge funds have also bought and sold shares of the stock. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology during the 4th quarter worth approximately $34,000. Quarry LP purchased a new position in shares of Alkami Technology in the fourth quarter valued at $61,000. Blue Trust Inc. increased 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 purchasing an additional 1,974 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Alkami Technology by 73.7% during the fourth 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 Alkami Technology during the fourth quarter valued at $203,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ALKT shares. Stephens raised 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 research note on Thursday, March 13th. Needham & Company LLC lowered their price target on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, May 1st. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Barclays decreased their price objective on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.88.

Alkami Technology Price Performance

Alkami Technology stock opened at $29.86 on Thursday. 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 firm has a 50-day moving average price of $26.66 and a 200-day moving average price of $32.37. The firm has a market capitalization of $3.08 billion, a PE ratio of -63.53 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. As a group, equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Alkami Technology

In related news, Director Joseph P. Payne purchased 8,200 shares of Alkami Technology stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $30.46 per share, with a total value of $249,772.00. Following the purchase, the director now directly owns 21,128 shares of the company’s stock, valued at approximately $643,558.88. This represents a 63.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology 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 sale, the insider now owns 244,404 shares of the company’s stock, valued at $7,432,325.64. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.10% of the company’s stock.

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.