Sandia Investment Management LP Makes New Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Sandia Investment Management LP bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $367,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock worth $273,187,000 after acquiring an additional 843,129 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after buying an additional 2,661,027 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Alkami Technology by 16.7% in the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company’s stock valued at $76,787,000 after buying an additional 299,728 shares in the last quarter. Franklin Resources Inc. lifted its stake in Alkami Technology by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company’s stock valued at $66,457,000 after buying an additional 6,970 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in Alkami Technology by 16.6% in the 4th quarter. Wasatch Advisors LP now owns 1,586,789 shares of the company’s stock valued at $58,203,000 after buying an additional 225,992 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Up 1.3%

Alkami Technology stock opened at $30.89 on Friday. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a 50 day moving average price of $26.33 and a 200 day moving average price of $32.51. The company has a market capitalization of $3.18 billion, a PE ratio of -65.72 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly 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 business had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. Research analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction on 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 approximately $13,703,354.20. The trade was a 3.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction on 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 directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This trade represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ALKT shares. Barclays decreased their price target on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price target 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. Lake Street Capital decreased their price target on shares of 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 decreased their price target on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.88.

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.