Alkami Technology, Inc. (NASDAQ:ALKT) Stake Boosted by Aquatic Capital Management LLC

Aquatic Capital Management LLC lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 153.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,260 shares of the company’s stock after acquiring an additional 19,556 shares during the quarter. Aquatic Capital Management LLC’s holdings in Alkami Technology were worth $1,183,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALKT. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology in the fourth quarter valued at $34,000. Blue Trust Inc. raised its position in Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after buying an additional 1,974 shares during the period. Tower Research Capital LLC TRC lifted its stake 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 worth $148,000 after acquiring an additional 1,710 shares in the last quarter. Bank of Montreal Can acquired a new stake in Alkami Technology during the 4th quarter worth about $203,000. Finally, Summit Investment Advisors Inc. grew its stake in Alkami Technology by 28.7% during the 4th 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. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALKT. The Goldman Sachs Group reduced their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Barclays decreased their target price on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Finally, Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.38.

Alkami Technology Trading Up 1.2 %

Alkami Technology stock opened at $26.42 on Wednesday. Alkami Technology, Inc. has a one year low of $21.70 and a one year high of $42.29. The company’s fifty day moving average price is $26.23 and its two-hundred day moving average price is $33.19. 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 company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -56.21 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 (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 company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. On average, analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

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.