Versor Investments LP Takes Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Versor Investments LP bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,200 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds have also modified their holdings of ALKT. US Bancorp DE acquired a new stake in Alkami Technology in the 3rd quarter valued at $259,000. Harbor Capital Advisors Inc. grew its holdings in shares of Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after purchasing an additional 691 shares during the last quarter. Arlington Capital Management Inc. increased its position in shares of Alkami Technology by 3.5% during the 3rd quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company’s stock worth $2,239,000 after purchasing an additional 2,417 shares in the last quarter. Olympiad Research LP bought a new position in Alkami Technology during the 3rd quarter valued at about $429,000. Finally, Principal Financial Group Inc. acquired a new position in Alkami Technology in the third quarter valued at about $875,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. JPMorgan Chase & Co. raised their price target on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Barclays cut their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.14.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT opened at $29.57 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1-year low of $22.65 and a 1-year high of $42.29. The stock has a market capitalization of $2.97 billion, a P/E ratio of -62.91 and a beta of 0.47. The business has a 50-day moving average price of $34.67 and a two-hundred day moving average price of $35.04.

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

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the completion of the sale, the insider now owns 191,668 shares in the company, valued at approximately $7,676,303.40. This represents a 20.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $14,072,256.57. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,000 shares of company stock worth $9,322,500. Insiders own 38.00% of the company’s stock.

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.