Jacobs Levy Equity Management Inc. Acquires New Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Jacobs Levy Equity Management Inc. bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 226,654 shares of the company’s stock, valued at approximately $5,569,000. Jacobs Levy Equity Management Inc. owned 0.23% of Alkami Technology at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Jump Financial LLC lifted its stake in shares of Alkami Technology by 138.3% in the fourth quarter. Jump Financial LLC now owns 55,767 shares of the company’s stock worth $1,352,000 after acquiring an additional 32,367 shares during the period. Wasatch Advisors LP bought a new stake in Alkami Technology during the first quarter valued at $37,178,000. Lisanti Capital Growth LLC acquired a new stake in Alkami Technology during the 1st quarter worth about $3,316,000. Trexquant Investment LP bought a new position in shares of Alkami Technology in the 4th quarter worth about $1,094,000. Finally, Quest Partners LLC acquired a new position in shares of Alkami Technology in the 4th quarter valued at about $113,000. Institutional investors own 54.97% of the company’s stock.

Insiders Place Their Bets

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $28.80, for a total value of $2,880,000.00. Following the transaction, the chief financial officer now owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the transaction, the insider now directly owns 262,749 shares in the company, valued at $7,049,555.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the sale, the chief financial officer now owns 505,877 shares of the company’s stock, valued at approximately $14,569,257.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,848,472 shares of company stock valued at $49,241,550 in the last 90 days. 38.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALKT shares. Barclays boosted their target price on shares of Alkami Technology from $28.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. JMP Securities raised their price objective on Alkami Technology from $30.00 to $35.00 and gave the company a “market outperform” rating in a research note on Monday, July 22nd. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Alkami Technology in a report on Tuesday, June 25th. Finally, Craig Hallum increased their target price on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.56.

Alkami Technology Price Performance

Alkami Technology stock traded down $0.15 during trading on Tuesday, hitting $32.69. 359,331 shares of the company were exchanged, compared to its average volume of 401,748. The business’s 50 day moving average is $28.90 and its 200 day moving average is $26.23. Alkami Technology, Inc. has a 52 week low of $14.93 and a 52 week high of $34.47. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. During the same period in the previous year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, equities analysts expect that Alkami Technology, Inc. will post -0.38 EPS for the current year.

Alkami Technology Company 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.