Caxton Associates LP Raises Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Caxton Associates LP lifted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 50.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,676 shares of the company's stock after buying an additional 9,949 shares during the period. Caxton Associates LP's holdings in Alkami Technology were worth $1,089,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC raised its stake in Alkami Technology by 108.2% during the third quarter. Barclays PLC now owns 95,391 shares of the company's stock worth $3,009,000 after acquiring an additional 49,580 shares in the last quarter. Franklin Resources Inc. boosted its position in Alkami Technology by 4.4% in the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company's stock valued at $61,364,000 after buying an additional 75,469 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alkami Technology by 474.5% during the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock worth $11,971,000 after buying an additional 313,478 shares in the last quarter. Diversified Trust Co bought a new position in shares of Alkami Technology in the 4th quarter valued at $595,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Alkami Technology by 10.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock valued at $247,000 after acquiring an additional 615 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors.

Insider Activity at Alkami Technology

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

Alkami Technology Trading Down 0.1 %

ALKT traded down $0.03 during trading on Friday, hitting $29.41. The company's stock had a trading volume of 771,167 shares, compared to its average volume of 841,071. The firm has a market capitalization of $3.03 billion, a P/E ratio of -62.57 and a beta of 0.56. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. The stock's fifty day moving average price is $25.89 and its 200-day moving average price is $32.74. 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 - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

ALKT has been the topic of a number of recent research reports. JMP Securities reissued a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. Lake Street Capital decreased their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a report on Thursday, March 13th. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, Needham & Company LLC reduced their price target on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.88.

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.