Atria Investments Inc Invests $239,000 in Alkami Technology, Inc. (NASDAQ:ALKT)

Atria Investments Inc purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,527 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds have also bought and sold shares of ALKT. JPMorgan Chase & Co. increased its holdings in shares of Alkami Technology by 474.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after purchasing an additional 313,478 shares in the last quarter. Castleark Management LLC purchased a new position in Alkami Technology in the third quarter valued at $6,050,000. Loomis Sayles & Co. L P acquired a new position in shares of Alkami Technology in the third quarter worth about $6,032,000. Geode Capital Management LLC boosted its stake in shares of Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after acquiring an additional 173,394 shares in the last quarter. Finally, FMR LLC grew its position in shares of Alkami Technology by 10.2% during the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after acquiring an additional 141,319 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analyst Ratings Changes

ALKT has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Barclays reduced their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. 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. Finally, JPMorgan Chase & Co. upped their price objective 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Alkami Technology Stock Down 0.9 %

Shares of ALKT opened at $25.48 on Wednesday. The stock has a 50 day moving average price of $32.14 and a 200 day moving average price of $34.54. Alkami Technology, Inc. has a one year low of $22.65 and a one year 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 stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -54.21 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) 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 analysts’ expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Equities research analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the business’s 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 transaction, the insider now owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,767 shares of company stock worth $4,004,934. Insiders own 38.00% of the company’s stock.

Alkami Technology 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.