PDT Partners LLC Has $3.31 Million Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

PDT Partners LLC boosted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 100.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,355 shares of the company's stock after purchasing an additional 45,313 shares during the period. PDT Partners LLC owned about 0.09% of Alkami Technology worth $3,314,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC bought a new position in shares of Alkami Technology in the 4th quarter valued at $34,000. Quarry LP bought a new position in Alkami Technology in the fourth quarter valued at about $61,000. Blue Trust Inc. boosted its stake in shares of Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after purchasing an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Alkami Technology by 73.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock valued at $148,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Alkami Technology during the fourth quarter worth about $203,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Insider Buying and Selling

In other Alkami Technology news, 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 value of $529,407.69. Following the transaction, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the business's 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 sale, the insider now owns 244,404 shares of the company's stock, valued at approximately $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 owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ALKT shares. The Goldman Sachs Group reduced 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. Needham & Company LLC reduced their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday. Lake Street Capital lowered their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday. Barclays cut their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Finally, JMP Securities reissued a "market outperform" rating and issued a $46.00 price target on shares of Alkami Technology in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Alkami Technology has an average rating of "Moderate Buy" and an average price target of $39.88.

Alkami Technology Trading Up 3.5 %

Alkami Technology stock traded up $0.92 during trading hours on Friday, reaching $26.99. 870,029 shares of the company's stock were exchanged, compared to its average volume of 826,292. The firm has a market capitalization of $2.78 billion, a PE ratio of -57.43 and a beta of 0.56. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm's 50 day simple moving average is $26.00 and its 200 day simple moving average is $33.05. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.05) 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 business had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Research analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current 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.