AQR Capital Management LLC Sells 4,285 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

AQR Capital Management LLC cut its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 17.5% in the second quarter, Holdings Channel reports. The institutional investor owned 20,267 shares of the company’s stock after selling 4,285 shares during the period. AQR Capital Management LLC’s holdings in Alkami Technology were worth $577,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wasatch Advisors LP bought a new stake in Alkami Technology in the first quarter worth $37,178,000. Lisanti Capital Growth LLC bought a new stake in shares of Alkami Technology during the first quarter worth $3,316,000. Hodges Capital Management Inc. lifted its position in shares of Alkami Technology by 24.0% during 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 during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Alkami Technology by 45.8% during the second quarter. Bank of New York Mellon Corp now owns 173,294 shares of the company’s stock worth $4,935,000 after purchasing an additional 54,453 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Alkami Technology by 1.3% during the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock worth $2,081,000 after purchasing an additional 1,100 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Price Performance

ALKT opened at $34.00 on Tuesday. The business’s 50-day moving average is $31.68 and its two-hundred day moving average is $28.97. Alkami Technology, Inc. has a 1 year low of $16.71 and a 1 year high of $36.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75. The firm has a market capitalization of $3.32 billion, a PE ratio of -56.67 and a beta of 0.46.

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

Wall Street Analyst Weigh In

ALKT has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Craig Hallum lifted their target price on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Lake Street Capital lifted their target price on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities raised their price target on Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC raised their price target on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.89.

Insider Transactions at Alkami Technology

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

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.