Edgestream Partners L.P. Purchases Shares of 69,204 Alkami Technology, Inc. (NASDAQ:ALKT)

Edgestream Partners L.P. acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 69,204 shares of the company’s stock, valued at approximately $2,538,000.

Several other hedge funds have also modified their holdings of ALKT. Lisanti Capital Growth LLC increased its holdings in Alkami Technology by 6.1% during the 4th quarter. Lisanti Capital Growth LLC now owns 98,250 shares of the company’s stock worth $3,604,000 after purchasing an additional 5,630 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Alkami Technology during the fourth quarter worth about $1,133,000. Atria Investments Inc purchased a new stake in shares of Alkami Technology during the fourth quarter worth approximately $239,000. Charles Schwab Investment Management Inc. raised its holdings in Alkami Technology by 12.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 599,201 shares of the company’s stock valued at $21,979,000 after acquiring an additional 64,826 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Alkami Technology by 38.8% in the fourth quarter. US Bancorp DE now owns 11,388 shares of the company’s stock worth $418,000 after acquiring an additional 3,186 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 17,409 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now owns 450,620 shares in the company, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,767 shares of company stock worth $9,984,434 in the last quarter. 38.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALKT. Barclays dropped their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group decreased 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.14.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $27.30 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The firm has a market capitalization of $2.79 billion, a PE ratio of -58.09 and a beta of 0.49. The stock’s 50-day simple moving average is $33.77 and its 200-day simple moving average is $34.95.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). The business had revenue of $89.66 million for 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%. As a group, equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal 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.