Quantbot Technologies LP Buys 36,602 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Quantbot Technologies LP lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 410.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,517 shares of the company’s stock after buying an additional 36,602 shares during the quarter. Quantbot Technologies LP’s holdings in Alkami Technology were worth $1,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ALKT. GSA Capital Partners LLP purchased a new stake in Alkami Technology in the 3rd quarter worth approximately $203,000. Victory Capital Management Inc. purchased a new stake in shares of Alkami Technology in the third quarter worth $979,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Alkami Technology by 108.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company’s stock worth $1,719,000 after purchasing an additional 28,395 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Alkami Technology during the 3rd quarter valued at $387,000. Institutional investors own 54.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALKT shares. JPMorgan Chase & Co. increased their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Barclays decreased their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group lowered their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,767 shares of company stock worth $4,004,934. Company insiders own 38.00% of the company’s stock.

Alkami Technology Price Performance

ALKT stock opened at $27.54 on Tuesday. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29. The firm has a market capitalization of $2.82 billion, a P/E ratio of -58.60 and a beta of 0.49. The company has a fifty day simple moving average of $31.48 and a two-hundred day simple moving average of $34.39. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The business had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

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.