Long Path Partners LP Sells 41,250 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Long Path Partners LP decreased its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 19.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 169,498 shares of the company’s stock after selling 41,250 shares during the period. Alkami Technology comprises about 2.0% of Long Path Partners LP’s investment portfolio, making the stock its 10th biggest holding. Long Path Partners LP owned 0.17% of Alkami Technology worth $6,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after purchasing an additional 615 shares during the period. Essex Investment Management Co. LLC purchased a new stake in Alkami Technology in the 4th quarter worth approximately $34,000. Quantbot Technologies LP boosted its stake in shares of Alkami Technology by 20.6% during the 3rd quarter. Quantbot Technologies LP now owns 8,915 shares of the company’s stock valued at $281,000 after buying an additional 1,524 shares during the period. Blue Trust Inc. grew its holdings in shares of Alkami Technology by 162.6% during the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after acquiring an additional 1,974 shares in the last quarter. Finally, Amundi grew its holdings in shares of Alkami Technology by 9.5% during the 4th quarter. Amundi now owns 28,492 shares of the company’s stock valued at $1,023,000 after acquiring an additional 2,478 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALKT. Barclays reduced 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, March 3rd. The Goldman Sachs Group reduced their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Alkami Technology Trading Up 1.5 %

NASDAQ:ALKT opened at $26.92 on Thursday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $30.30 and its 200-day moving average is $34.23. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -57.28 and a beta of 0.49. Alkami Technology, Inc. has a 12 month low of $22.86 and a 12 month high of $42.29.

Alkami Technology (NASDAQ:ALKT) last released its 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 firm had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Equities analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction 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. This represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,767 shares of company stock worth $4,004,934 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.