Long Path Partners LP Lowers Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Long Path Partners LP lessened its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 19.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 169,498 shares of the company’s stock after selling 41,250 shares during the period. Alkami Technology accounts for 2.0% of Long Path Partners LP’s holdings, making the stock its 10th largest position. Long Path Partners LP’s holdings in Alkami Technology were worth $6,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Essex Investment Management Co. LLC acquired a new position in Alkami Technology in the fourth quarter valued at about $34,000. Blue Trust Inc. raised its stake in shares of Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after acquiring an additional 1,974 shares during the last quarter. Atria Investments Inc acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $239,000. Harbor Capital Advisors Inc. grew its position in Alkami Technology by 10.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after acquiring an additional 615 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in Alkami Technology during the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 17,409 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 value of $529,407.69. Following the completion of the transaction, the chief financial officer now owns 450,620 shares of the company’s stock, valued at $13,703,354.20. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the company’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 completion of the sale, the insider now owns 244,404 shares of the company’s stock, valued at approximately $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 121,767 shares of company stock worth $4,004,934 in the last three months. Insiders own 38.00% of the company’s stock.

Alkami Technology Stock Up 1.5 %

Shares of NASDAQ ALKT opened at $26.92 on Thursday. Alkami Technology, Inc. has a 1 year low of $22.86 and a 1 year high of $42.29. The firm’s 50-day moving average is $30.30 and its 200-day moving average is $34.23. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.75 billion, a PE ratio of -57.28 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The business had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Equities analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

ALKT has been the topic of a number of recent analyst reports. Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Thursday, March 13th. Barclays decreased 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 report on Monday, March 3rd. The Goldman Sachs Group dropped their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Two research 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 a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.