BNP Paribas Financial Markets Invests $4.90 Million in Alkami Technology, Inc. (NASDAQ:ALKT)

BNP Paribas Financial Markets purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 133,591 shares of the company’s stock, valued at approximately $4,900,000. BNP Paribas Financial Markets owned about 0.13% of Alkami Technology at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in Alkami Technology by 10.1% in 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 last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology during the 4th quarter worth approximately $34,000. Summit Investment Advisors Inc. lifted its stake in shares of Alkami Technology by 28.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock worth $204,000 after acquiring an additional 1,238 shares during the last quarter. Mariner LLC boosted its holdings in Alkami Technology by 25.3% during the 4th quarter. Mariner LLC now owns 8,080 shares of the company’s stock valued at $296,000 after acquiring an additional 1,630 shares during the period. Finally, Quarry LP bought a new position in Alkami Technology in the 4th quarter valued at $61,000. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $31.19 on Wednesday. The business has a 50-day simple moving average of $25.98 and a two-hundred day simple moving average of $32.64. The company has a market cap of $3.21 billion, a PE ratio of -66.36 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). The firm had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. As a group, equities analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALKT has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their target price on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group reduced 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. Lake Street Capital reduced their price objective on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. JMP Securities reiterated a “market outperform” rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Finally, Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a 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 company. According to data from MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and an average target price of $39.88.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.10% of the company’s stock.

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.