Lisanti Capital Growth LLC Raises Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Lisanti Capital Growth LLC lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 6.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 98,250 shares of the company’s stock after buying an additional 5,630 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Alkami Technology were worth $3,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE acquired a new stake in Alkami Technology in the 3rd quarter worth approximately $259,000. Harbor Capital Advisors Inc. boosted its stake in 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 in the last quarter. Olympiad Research LP acquired a new stake in Alkami Technology in the 3rd quarter worth approximately $429,000. Principal Financial Group Inc. acquired a new stake in Alkami Technology in the 3rd quarter worth approximately $875,000. Finally, Covestor Ltd boosted its stake in Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays lowered their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. lifted their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group lowered 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.14.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $27.97 on Friday. 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 12 month low of $22.65 and a 12 month high of $42.29. The company has a 50 day simple moving average of $34.00 and a two-hundred day simple moving average of $34.93. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -59.51 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) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $89.63 million. As a group, analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $11,828,904.63. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 50,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the sale, the insider now directly owns 191,668 shares of the company’s stock, valued at approximately $7,676,303.40. The trade was a 20.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 271,767 shares of company stock worth $9,984,434 in the last three months. Company 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.