15,004 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,004 shares of the company's stock, valued at approximately $550,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after acquiring an additional 843,129 shares during the period. Alliancebernstein L.P. lifted its holdings in Alkami Technology by 5,747.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after purchasing an additional 2,661,027 shares during the last quarter. Franklin Resources Inc. boosted its position in Alkami Technology by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock worth $66,457,000 after purchasing an additional 6,970 shares during the period. Wasatch Advisors LP boosted its position in Alkami Technology by 16.6% during the fourth quarter. Wasatch Advisors LP now owns 1,586,789 shares of the company's stock worth $58,203,000 after purchasing an additional 225,992 shares during the period. Finally, Champlain Investment Partners LLC purchased a new position in shares of Alkami Technology in the fourth quarter worth about $57,772,000. 54.97% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO W Bryan Hill sold 17,409 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction 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 sale, the insider now directly owns 244,404 shares of the company's stock, valued at $7,432,325.64. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.10% of the company's stock.

Alkami Technology Price Performance

NASDAQ:ALKT traded down $0.19 during trading hours on Monday, hitting $30.70. The stock had a trading volume of 586,336 shares, compared to its average volume of 849,532. The company has a 50 day simple moving average of $26.33 and a two-hundred day simple moving average of $32.44. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -65.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a one year low of $21.70 and a one year high of $42.29.

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

Analysts Set New Price Targets

ALKT has been the subject of several analyst reports. Needham & Company LLC cut their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Barclays dropped their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group cut their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Lake Street Capital decreased their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective on the stock in a report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Alkami Technology presently has a consensus rating of "Moderate Buy" and an average target price of $39.88.

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.