nVerses Capital LLC Acquires Shares of 3,100 Alkami Technology, Inc. (NASDAQ:ALKT)

nVerses Capital LLC bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,100 shares of the company’s stock, valued at approximately $88,000.

A number of other large investors have also recently made changes to their positions in the stock. Swiss National Bank increased its stake in Alkami Technology by 1.3% in the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock worth $2,081,000 after buying an additional 1,100 shares during the period. NBC Securities Inc. increased its position in shares of Alkami Technology by 61.6% during the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after acquiring an additional 1,102 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Alkami Technology by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after acquiring an additional 1,460 shares in the last quarter. Perkins Coie Trust Co purchased a new stake in shares of Alkami Technology in the second quarter valued at approximately $85,000. Finally, Quest Partners LLC bought a new position in Alkami Technology in the fourth quarter worth approximately $113,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $31.71 on Wednesday. Alkami Technology, Inc. has a fifty-two week low of $16.49 and a fifty-two week high of $36.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The company has a market cap of $3.09 billion, a PE ratio of -52.85 and a beta of 0.47. The business has a 50-day simple moving average of $31.71 and a two-hundred day simple moving average of $27.55.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. Alkami Technology’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, equities analysts expect that Alkami Technology, Inc. will post -0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALKT has been the subject of a number of research analyst reports. Craig Hallum lifted their target price on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays upped their price objective on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Needham & Company LLC boosted their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, JMP Securities increased their price objective on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.89.

Insider Activity

In related news, CFO W Bryan Hill sold 100,000 shares of the company’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 value of $2,572,000.00. Following the sale, the chief financial officer now owns 489,340 shares in the company, valued at $12,585,824.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the completion of the transaction, the director now owns 15,555,049 shares in the company, valued at approximately $484,850,877.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $25.72, for a total value of $2,572,000.00. Following the completion of the sale, the chief financial officer now owns 489,340 shares in the company, valued at approximately $12,585,824.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,644,241 shares of company stock valued at $113,188,937. Company insiders own 38.00% of the company’s stock.

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.