Versor Investments LP Takes Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Versor Investments LP acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,200 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALKT. Advisors Asset Management Inc. increased its holdings in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares in the last quarter. Covestor Ltd grew its holdings in shares of Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after buying an additional 2,646 shares in the last quarter. Blue Trust Inc. raised its position in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after buying an additional 1,974 shares during the last quarter. Icon Wealth Advisors LLC bought a new stake in Alkami Technology in the 3rd quarter valued at approximately $155,000. Finally, Harbor Capital Advisors Inc. lifted 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 valued at $193,000 after acquiring an additional 691 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the transaction, the insider now directly owns 191,668 shares of the company’s stock, valued at $7,676,303.40. The trade was a 20.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated 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. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 250,000 shares of company stock valued at $9,322,500 over the last 90 days. 38.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALKT shares. Barclays decreased their price target 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 price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group cut their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.14.

Alkami Technology Price Performance

NASDAQ:ALKT opened at $29.57 on Tuesday. The stock has a market capitalization of $2.97 billion, a PE ratio of -62.91 and a beta of 0.47. Alkami Technology, Inc. has a 1-year low of $22.65 and a 1-year high of $42.29. The firm has a fifty day simple moving average of $34.67 and a 200 day simple moving average of $35.04. 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 (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). The firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. On average, research analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

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.