Cubist Systematic Strategies LLC Makes New Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Cubist Systematic Strategies LLC bought a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,165 shares of the company's stock, valued at approximately $1,033,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bosun Asset Management LLC lifted its stake in shares of Alkami Technology by 1.4% during the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock worth $849,000 after purchasing an additional 313 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Alkami Technology in the fourth quarter worth about $467,000. Captrust Financial Advisors lifted its stake in shares of Alkami Technology by 232.3% in the fourth quarter. Captrust Financial Advisors now owns 94,652 shares of the company's stock worth $3,472,000 after acquiring an additional 66,170 shares in the last quarter. Caxton Associates LP lifted its stake in shares of Alkami Technology by 50.4% in the fourth quarter. Caxton Associates LP now owns 29,676 shares of the company's stock worth $1,089,000 after acquiring an additional 9,949 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Alkami Technology in the fourth quarter worth about $550,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Insider Activity

In related news, Director Joseph P. Payne bought 8,200 shares of the stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $30.46 per share, with a total value of $249,772.00. Following the completion of the acquisition, the director now owns 21,128 shares of the company's stock, valued at $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the company'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 transaction, the insider now directly owns 244,404 shares of the company's stock, valued at $7,432,325.64. This trade represents a 1.75% 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.

Wall Street Analysts Forecast Growth

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

Alkami Technology Stock Up 1.3%

Alkami Technology stock traded up $0.40 during midday trading on Friday, hitting $30.89. The stock had a trading volume of 805,184 shares, compared to its average volume of 850,333. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.18 billion, a P/E ratio of -65.72 and a beta of 0.56. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The business has a fifty day moving average price of $26.33 and a 200 day moving average price of $32.51.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted 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). 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 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.