69,204 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 69,204 shares of the company’s stock, valued at approximately $2,538,000. Edgestream Partners L.P. owned 0.07% of Alkami Technology as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALKT. JPMorgan Chase & Co. grew its holdings in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after purchasing an additional 313,478 shares during the period. Castleark Management LLC acquired a new stake in Alkami Technology in the third quarter valued at approximately $6,050,000. Loomis Sayles & Co. L P acquired a new stake in Alkami Technology in the third quarter valued at approximately $6,032,000. Geode Capital Management LLC grew its holdings in Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after purchasing an additional 173,394 shares during the period. Finally, FMR LLC grew its holdings in Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after purchasing an additional 141,319 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.77, for a total transaction of $3,977,000.00. Following the transaction, the chief financial officer now owns 353,841 shares in the company, valued at approximately $14,072,256.57. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction that occurred on 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 transaction, the insider now owns 191,668 shares in the company, 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. Over the last 90 days, insiders have sold 271,767 shares of company stock worth $9,984,434. 38.00% of the stock is owned by corporate insiders.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $27.30 on Monday. The company has a market cap of $2.79 billion, a PE ratio of -58.09 and a beta of 0.49. The stock’s 50 day simple moving average is $33.77 and its 200-day simple moving average is $34.95. Alkami Technology, Inc. has a 1-year low of $22.65 and a 1-year high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS 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 company had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. As a group, equities research analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on ALKT. The Goldman Sachs Group dropped their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Barclays dropped their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.14.

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.