ProVise Management Group LLC Takes Position in Alkami Technology, Inc. (NASDAQ:ALKT)

ProVise Management Group LLC bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,339 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. NBC Securities Inc. lifted its holdings in Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after buying an additional 1,102 shares in the last quarter. Perkins Coie Trust Co bought a new stake in shares of Alkami Technology in the 2nd quarter valued at $85,000. nVerses Capital LLC bought a new stake in shares of Alkami Technology in the 2nd quarter valued at $88,000. Quest Partners LLC bought a new stake in shares of Alkami Technology in the 4th quarter valued at $113,000. Finally, Acadian Asset Management LLC bought a new position in Alkami Technology during the 1st quarter worth about $140,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT opened at $31.64 on Friday. The company’s 50 day simple moving average is $31.89 and its 200 day simple moving average is $27.92. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -53.37 and a beta of 0.47. Alkami Technology, Inc. has a 1 year low of $16.49 and a 1 year high of $36.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The company’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, research analysts predict that Alkami Technology, Inc. will post -0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ALKT shares. Craig Hallum increased their target price on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays raised their target price on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Lake Street Capital raised their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their price objective on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC raised their target price on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and an average target price of $33.89.

Insider Transactions at Alkami Technology

In related news, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the transaction, the director now owns 784,549 shares in the company, valued at $24,454,392.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian R. Smith sold 83,333 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the transaction, the director now owns 784,549 shares in the company, valued at approximately $24,454,392.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,593,370 shares of company stock worth $112,203,873. Company insiders own 38.00% 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.