nVerses Capital LLC Buys 500 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

nVerses Capital LLC increased its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,600 shares of the company’s stock after buying an additional 500 shares during the quarter. nVerses Capital LLC’s holdings in Alkami Technology were worth $114,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wasatch Advisors LP bought a new stake in Alkami Technology in the first quarter worth $37,178,000. Lisanti Capital Growth LLC bought a new stake in Alkami Technology in the first quarter worth $3,316,000. Driehaus Capital Management LLC lifted its position in Alkami Technology by 56.2% in the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after buying an additional 392,483 shares during the last quarter. Millennium Management LLC lifted its position in shares of Alkami Technology by 124.1% during the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after purchasing an additional 284,977 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its position in shares of Alkami Technology by 24.0% during the second quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock worth $6,024,000 after purchasing an additional 40,949 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Price Performance

ALKT opened at $36.34 on Monday. The business’s 50-day moving average is $31.88 and its two-hundred day moving average is $29.28. Alkami Technology, Inc. has a 1 year low of $17.32 and a 1 year high of $36.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75. The firm has a market capitalization of $3.54 billion, a PE ratio of -60.57 and a beta of 0.46.

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

Insiders Place Their Bets

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the firm’s 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 sale, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO W Bryan Hill sold 69,511 shares of Alkami Technology stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $33.34, for a total transaction of $2,317,496.74. Following the completion of the sale, the chief financial officer now owns 489,340 shares of the company’s stock, valued at $16,314,595.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.