Renaissance Technologies LLC Buys 10,600 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Renaissance Technologies LLC increased its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 12.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,400 shares of the company’s stock after acquiring an additional 10,600 shares during the period. Renaissance Technologies LLC’s holdings in Alkami Technology were worth $2,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. increased its holdings in Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after purchasing an additional 1,102 shares during the period. Perkins Coie Trust Co purchased a new position in Alkami Technology during the 2nd quarter valued at about $85,000. nVerses Capital LLC purchased a new position in Alkami Technology during the 2nd quarter valued at about $88,000. Acadian Asset Management LLC purchased a new position in Alkami Technology during the 1st quarter valued at about $140,000. Finally, MQS Management LLC purchased a new position in Alkami Technology during the 1st quarter valued at about $237,000. Institutional investors own 54.97% of the company’s stock.

Insider Activity at Alkami Technology

In other news, major shareholder George B. Kaiser sold 1,666,666 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the transaction, the insider now directly owns 8,419,784 shares of the company’s stock, valued at approximately $262,444,667.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder George B. Kaiser sold 1,666,666 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total value of $51,949,979.22. Following the completion of the sale, the insider now directly owns 8,419,784 shares in the company, valued at approximately $262,444,667.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian R. Smith sold 83,333 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the sale, the director now owns 784,549 shares of the company’s stock, valued at $24,454,392.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is owned by corporate insiders.

Alkami Technology Stock Performance

ALKT stock opened at $31.54 on Tuesday. The stock has a market capitalization of $3.08 billion, a PE ratio of -52.57 and a beta of 0.47. Alkami Technology, Inc. has a 12-month low of $16.49 and a 12-month high of $36.00. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $31.70 and its 200 day simple moving average is $28.35.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, research analysts forecast that Alkami Technology, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Craig Hallum boosted their price target on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays upped their target price on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. JMP Securities upped their target price on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their target price on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC boosted their price target on Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and a consensus target price of $33.89.

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.