Arlington Capital Management Inc. Increases Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Arlington Capital Management Inc. boosted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 75,564 shares of the company’s stock after acquiring an additional 4,559 shares during the period. Alkami Technology comprises approximately 1.9% of Arlington Capital Management Inc.’s holdings, making the stock its 12th biggest holding. Arlington Capital Management Inc.’s holdings in Alkami Technology were worth $2,772,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Alkami Technology by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock valued at $273,187,000 after purchasing an additional 843,129 shares during the period. Burkehill Global Management LP acquired a new stake in shares of Alkami Technology during the 4th quarter worth $12,838,000. JPMorgan Chase & Co. boosted its holdings in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after acquiring an additional 313,478 shares during the last quarter. Castleark Management LLC purchased a new stake in Alkami Technology during the third quarter valued at about $6,050,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Alkami Technology in the 3rd quarter worth about $6,032,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,767 shares of company stock worth $4,004,934 in the last ninety days. 38.00% of the stock is owned by insiders.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $27.62 on Wednesday. Alkami Technology, Inc. has a 1-year low of $22.65 and a 1-year high of $42.29. The stock has a market cap of $2.82 billion, a P/E ratio of -58.77 and a beta of 0.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a 50-day moving average of $31.34 and a two-hundred day moving average of $34.38.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data 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 business had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. On average, research analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALKT shares. 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 research report on Monday, March 3rd. The Goldman Sachs Group cut their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research report on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

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.