nVerses Capital LLC Boosts Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

nVerses Capital LLC grew its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 16.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,600 shares of the company’s stock after buying an additional 500 shares during the quarter. nVerses Capital LLC’s holdings in Alkami Technology were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALKT. Park Place Capital Corp purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $28,000. Point72 Asset Management L.P. purchased a new stake in shares of Alkami Technology in the second quarter valued at approximately $40,000. NBC Securities Inc. increased its position in shares of Alkami Technology by 61.6% in the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after buying an additional 1,102 shares in the last quarter. Perkins Coie Trust Co purchased a new stake in shares of Alkami Technology during the second quarter worth approximately $85,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Alkami Technology during the first quarter worth approximately $140,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $36.34 on Monday. Alkami Technology, Inc. has a 52 week low of $17.32 and a 52 week high of $36.79. The business’s fifty day simple moving average is $31.88 and its 200-day simple moving average is $29.28. The firm has a market cap of $3.54 billion, a PE ratio of -60.57 and a beta of 0.46. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 business had revenue of $82.16 million for the quarter, compared to analyst estimates of $81.32 million. During the same quarter in the prior year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 24.9% on a year-over-year basis. Equities analysts forecast that Alkami Technology, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Stephen Bohanon sold 35,893 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the transaction, the insider now owns 403,786 shares of the company’s stock, valued at approximately $13,567,209.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Brian R. Smith sold 83,333 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the transaction, the director now owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Bohanon sold 35,893 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80. Following the sale, the insider now owns 403,786 shares in the company, valued at approximately $13,567,209.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,648,416 shares of company stock valued at $113,920,758. Corporate insiders own 38.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Needham & Company LLC upped their target price on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Lake Street Capital upped their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Craig Hallum upped their target price on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, JMP Securities upped their target price on Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.89.

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.