10,900 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,900 shares of the company’s stock, valued at approximately $400,000.

Other hedge funds also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC acquired a new stake in shares of Alkami Technology in the 4th quarter worth about $34,000. Blue Trust Inc. grew its position in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after purchasing an additional 1,974 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Alkami Technology in the fourth quarter valued at approximately $239,000. Harbor Capital Advisors Inc. raised its holdings in shares of Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock valued at $247,000 after buying an additional 615 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Alkami Technology during the third quarter worth approximately $223,000. 54.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were 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. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the insider now directly owns 244,404 shares in the company, 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. In the last quarter, insiders have sold 121,767 shares of company stock valued at $4,004,934. 38.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays lowered their price target on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report 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 objective for the company in a report on Thursday, March 13th. Finally, The Goldman Sachs Group lowered 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $23.49 on Friday. The company has a 50-day moving average of $29.86 and a 200-day moving average of $34.12. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -49.98 and a beta of 0.49. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a twelve month low of $22.86 and a twelve month high of $42.29.

Alkami Technology (NASDAQ:ALKT) last posted 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). The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

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.