Alkami Technology, Inc. (NASDAQ:ALKT) Stock Holdings Lessened by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 79.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,835 shares of the company’s stock after selling 74,840 shares during the quarter. SG Americas Securities LLC’s holdings in Alkami Technology were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Wasatch Advisors LP purchased a new stake in shares of Alkami Technology in the first quarter worth approximately $37,178,000. Lisanti Capital Growth LLC purchased a new stake in shares of Alkami Technology in the first quarter worth approximately $3,316,000. Driehaus Capital Management LLC lifted its position in shares of Alkami Technology by 56.2% in the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after purchasing an additional 392,483 shares in the last quarter. Millennium Management LLC lifted its position in shares of Alkami Technology by 124.1% in the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after purchasing an additional 284,977 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its position in shares of Alkami Technology by 24.0% in the second quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock worth $6,024,000 after purchasing an additional 40,949 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays raised their price objective on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group raised their price objective on shares of Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Lake Street Capital raised their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JMP Securities raised 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 report on Thursday, August 1st. Finally, Needham & Company LLC raised their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.89.

Insider Transactions at Alkami Technology

In related news, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the completion of the transaction, the insider now directly owns 388,181 shares of the company’s stock, valued at $12,262,637.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Bohanon sold 15,605 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the sale, the insider now directly owns 388,181 shares of the company’s stock, valued at $12,262,637.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,648,416 shares of company stock worth $113,920,758. Insiders own 38.00% of the company’s stock.

Alkami Technology Trading Up 0.4 %

Shares of Alkami Technology stock opened at $34.00 on Tuesday. The company’s fifty day simple moving average is $31.68 and its 200-day simple moving average is $28.97. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -56.67 and a beta of 0.46. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1 year low of $16.71 and a 1 year high of $36.00.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The business 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 quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) earnings per share. As a group, sell-side analysts expect that Alkami Technology, Inc. will post -0.36 EPS for the current year.

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.