15,004 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the fourth quarter, HoldingsChannel reports. The firm acquired 15,004 shares of the company’s stock, valued at approximately $550,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Essex Investment Management Co. LLC acquired a new stake in shares of Alkami Technology during the fourth quarter worth $34,000. Summit Investment Advisors Inc. increased its stake in Alkami Technology by 28.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock valued at $204,000 after buying an additional 1,238 shares during the last quarter. Mariner LLC increased its stake in Alkami Technology by 25.3% in the 4th quarter. Mariner LLC now owns 8,080 shares of the company’s stock valued at $296,000 after buying an additional 1,630 shares during the last quarter. Quarry LP acquired a new stake in Alkami Technology in the 4th quarter valued at $61,000. Finally, Tower Research Capital LLC TRC increased its stake in Alkami Technology by 73.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company’s stock valued at $148,000 after buying an additional 1,710 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Needham & Company LLC lowered their price target on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Lake Street Capital lowered their price target on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research report on Thursday, March 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. Two investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $39.88.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $30.49 on Friday. 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 has a market capitalization of $3.14 billion, a P/E ratio of -64.87 and a beta of 0.56. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month high of $42.29. The firm has a 50-day moving average price of $26.18 and a two-hundred day moving average price of $32.57.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $89.63 million. Analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the transaction, the chief financial officer now owns 450,620 shares of the company’s stock, valued at $13,703,354.20. This represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. The trade was a 1.75% decrease in their position. The disclosure for this sale can be found here. 18.10% of the stock is currently owned by insiders.

About Alkami Technology

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.