Bayesian Capital Management LP Invests $575,000 in Alkami Technology, Inc. (NASDAQ:ALKT)

Bayesian Capital Management LP acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,686 shares of the company's stock, valued at approximately $575,000.

Several other hedge funds have also recently bought and sold shares of ALKT. Barclays PLC lifted its position 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 during the last quarter. Franklin Resources Inc. increased its position in Alkami Technology by 4.4% during the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company's stock worth $61,364,000 after acquiring an additional 75,469 shares during the period. JPMorgan Chase & Co. increased its position in 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 acquiring an additional 313,478 shares during the period. Diversified Trust Co bought a new position in Alkami Technology during the fourth quarter worth about $595,000. Finally, Harbor Capital Advisors Inc. increased its position in Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock worth $247,000 after acquiring an additional 615 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO W Bryan Hill sold 17,409 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares of the company's stock, valued at $13,703,354.20. The trade was a 3.72% 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. Needham & Company LLC dropped their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group dropped their price target on shares of 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, Lake Street Capital lowered their price objective 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

Alkami Technology Price Performance

Shares of ALKT traded up $0.88 during trading hours on Monday, reaching $30.29. The stock had a trading volume of 340,026 shares, compared to its average volume of 839,218. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The stock has a market capitalization of $3.12 billion, a PE ratio of -64.60 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The company's 50-day moving average is $25.89 and its two-hundred day moving average is $32.70.

Alkami Technology (NASDAQ:ALKT - Get Free Report) 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). The firm had revenue of $89.66 million during 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 expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

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.