Bayesian Capital Management LP Purchases New Shares in Alkami Technology, Inc. (NASDAQ:ALKT)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. raised 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 valued at $247,000 after acquiring an additional 615 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Alkami Technology in the 4th quarter valued at $34,000. Summit Investment Advisors Inc. boosted its holdings in Alkami Technology by 28.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock worth $204,000 after purchasing an additional 1,238 shares in the last quarter. Mariner LLC increased its position in Alkami Technology by 25.3% during the fourth quarter. Mariner LLC now owns 8,080 shares of the company's stock worth $296,000 after buying an additional 1,630 shares during the last quarter. Finally, Quarry LP bought a new position in Alkami Technology during the fourth quarter valued at about $61,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the business'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 $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 approximately $13,703,354.20. The trade was a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This trade 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 company insiders.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $27.51 on Wednesday. The stock has a market capitalization of $2.83 billion, a P/E ratio of -58.54 and a beta of 0.56. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29. The firm has a 50 day moving average of $25.94 and a 200-day moving average of $32.93. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced 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 the consensus estimate of $89.63 million. As a group, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

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.

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