Alkami Technology, Inc. (NASDAQ:ALKT) Stock Holdings Reduced by Hodges Capital Management Inc.

Hodges Capital Management Inc. lowered its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 26.5% during the first quarter, HoldingsChannel.com reports. The firm owned 170,551 shares of the company’s stock after selling 61,394 shares during the quarter. Hodges Capital Management Inc.’s holdings in Alkami Technology were worth $4,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALKT. Beaird Harris Wealth Management LLC grew its stake in Alkami Technology by 31.7% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. NBC Securities Inc. purchased a new position in Alkami Technology in the fourth quarter valued at about $43,000. Quest Partners LLC purchased a new position in Alkami Technology in the fourth quarter valued at about $113,000. Harvest Fund Management Co. Ltd grew its stake in Alkami Technology by 253.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Alkami Technology in the third quarter valued at about $214,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

ALKT opened at $28.48 on Friday. The company has a market cap of $2.78 billion, a PE ratio of -47.47 and a beta of 0.46. The stock has a 50-day moving average of $26.45 and a 200-day moving average of $25.08. Alkami Technology, Inc. has a 52-week low of $14.93 and a 52-week high of $29.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92.

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

Analysts Set New Price Targets

A number of research analysts have commented on ALKT shares. Craig Hallum boosted their target price on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. JMP Securities reiterated a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research note on Monday, April 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target on shares of Alkami Technology in a research note on Tuesday, June 25th. Three equities research 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 has an average rating of “Moderate Buy” and an average target price of $27.56.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the sale, the insider now owns 262,749 shares in the company, valued at approximately $7,049,555.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the sale, the insider now owns 262,749 shares in the company, valued at approximately $7,049,555.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $28.80, for a total value 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 sold a total of 1,848,472 shares of company stock worth $49,241,550 in the last 90 days. 38.00% of the stock is owned by company insiders.

Alkami Technology 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.