Atria Investments Inc Buys Shares of 6,527 Alkami Technology, Inc. (NASDAQ:ALKT)

Atria Investments Inc purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,527 shares of the company’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALKT. Harbor Capital Advisors Inc. lifted its position in Alkami Technology by 10.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock valued at $247,000 after buying an additional 615 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares during the last quarter. Quantbot Technologies LP boosted its position 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 worth $281,000 after purchasing an additional 1,524 shares during the period. PDT Partners LLC increased its holdings in Alkami Technology by 4.5% in the 3rd quarter. PDT Partners LLC now owns 45,042 shares of the company’s stock valued at $1,421,000 after purchasing an additional 1,947 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after purchasing an additional 1,974 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $25.48 on Wednesday. The business has a 50-day simple moving average of $32.14 and a 200-day simple moving average of $34.54. 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 one year low of $22.65 and a one year high of $42.29. The company has a market cap of $2.60 billion, a PE ratio of -54.21 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate 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. On average, equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 4,358 shares of the company’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 completion of the transaction, the insider now directly owns 244,404 shares of the company’s stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the firm’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 transaction of $529,407.69. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,767 shares of company stock worth $4,004,934. Corporate insiders own 38.00% of the company’s stock.

Analyst Upgrades and Downgrades

ALKT has been the subject of several research analyst reports. Barclays lowered their price target 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. JPMorgan Chase & Co. lifted their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. 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 research note on Thursday, March 13th. Finally, The Goldman Sachs Group lowered 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 note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

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.