Los Angeles Capital Management LLC Has $1.23 Million Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Los Angeles Capital Management LLC reduced its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 3.8% during the 1st quarter, Holdings Channel reports. The fund owned 50,145 shares of the company’s stock after selling 2,000 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Alkami Technology were worth $1,232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. NBC Securities Inc. acquired a new position in Alkami Technology in the fourth quarter worth $43,000. Beaird Harris Wealth Management LLC lifted its position in Alkami Technology by 31.7% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after buying an additional 500 shares in the last quarter. Quest Partners LLC bought a new stake in Alkami Technology during the 4th quarter worth about $113,000. Harvest Fund Management Co. Ltd increased its position in Alkami Technology by 253.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after acquiring an additional 5,445 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Alkami Technology during the fourth quarter valued at approximately $232,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the sale, the insider now owns 262,749 shares of the company’s stock, valued at $7,049,555.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at approximately $7,049,555.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the transaction, the chief financial officer now directly owns 489,340 shares of the company’s stock, valued at $12,585,824.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,848,472 shares of company stock worth $49,241,550. Company insiders own 38.00% of the company’s stock.

Alkami Technology Trading Up 2.6 %

ALKT opened at $25.69 on Monday. The firm’s fifty day moving average is $26.12 and its two-hundred day moving average is $24.94. The firm has a market cap of $2.51 billion, a PE ratio of -42.82 and a beta of 0.46. Alkami Technology, Inc. has a twelve month low of $14.93 and a twelve month high of $29.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. During the same period in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. Equities research analysts anticipate that Alkami Technology, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALKT. Barclays boosted their price objective on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. William Blair reaffirmed an “outperform” rating on shares of Alkami Technology in a research note on Thursday, February 29th. Craig Hallum lifted their price objective on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Alkami Technology in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.90.

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.