Scalar Gauge Management LLC Cuts Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Scalar Gauge Management LLC trimmed its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 65.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,822 shares of the company’s stock after selling 224,552 shares during the period. Alkami Technology comprises 2.0% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 15th largest position. Scalar Gauge Management LLC owned 0.12% of Alkami Technology worth $3,384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALKT. Swiss National Bank raised its stake in shares of Alkami Technology by 1.3% during the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock worth $2,081,000 after acquiring an additional 1,100 shares in the last quarter. NBC Securities Inc. raised its position in Alkami Technology by 61.6% in the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after purchasing an additional 1,102 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Alkami Technology by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock worth $283,000 after purchasing an additional 1,460 shares during the last quarter. Arizona State Retirement System lifted its stake in Alkami Technology by 14.8% in the second quarter. Arizona State Retirement System now owns 13,543 shares of the company’s stock worth $386,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Alkami Technology by 15.8% during the second quarter. Blair William & Co. IL now owns 18,705 shares of the company’s stock valued at $533,000 after buying an additional 2,550 shares during the period. Institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALKT. Needham & Company LLC boosted their target price on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Lake Street Capital increased their price objective on 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 lifted their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. JMP Securities increased their price target on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, August 1st. Finally, Craig Hallum boosted their price objective on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.89.

Insider Buying and Selling at Alkami Technology

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

Alkami Technology Trading Down 1.1 %

Shares of ALKT stock opened at $31.29 on Tuesday. The stock has a market capitalization of $3.05 billion, a P/E ratio of -52.15 and a beta of 0.47. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $31.90 and its 200 day moving average is $28.09. Alkami Technology, Inc. has a 12-month low of $16.49 and a 12-month high of $36.00.

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

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.