Renaissance Technologies LLC Grows Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Renaissance Technologies LLC raised its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 139.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,900 shares of the company's stock after buying an additional 58,157 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Alkami Technology worth $3,664,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Invesco Ltd. grew its position in shares of Alkami Technology by 353.1% in the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company's stock worth $53,411,000 after buying an additional 1,134,746 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Alkami Technology in the 4th quarter worth approximately $203,000. Federated Hermes Inc. grew its position in shares of Alkami Technology by 1.4% in the 4th quarter. Federated Hermes Inc. now owns 200,285 shares of the company's stock worth $7,346,000 after buying an additional 2,856 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Alkami Technology by 123.2% in the 4th quarter. Russell Investments Group Ltd. now owns 121,718 shares of the company's stock valued at $4,465,000 after purchasing an additional 67,194 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Alkami Technology in the 4th quarter valued at approximately $305,000. 54.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO W Bryan Hill sold 17,409 shares of the 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 $529,407.69. Following the completion of the transaction, the chief financial officer now owns 450,620 shares in the company, valued at $13,703,354.20. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.10% of the company's stock.

Alkami Technology Stock Down 2.8 %

Shares of ALKT stock traded down $0.76 during mid-day trading on Monday, hitting $26.11. The company's stock had a trading volume of 1,199,028 shares, compared to its average volume of 811,210. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -55.55 and a beta of 0.56. The business has a 50-day moving average price of $26.34 and a 200 day moving average price of $33.24.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted 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). The company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays lowered their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Stephens upgraded 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. Finally, The Goldman Sachs Group dropped their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.38.

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.