D. E. Shaw & Co. Inc. Acquires Shares of 227,704 Alkami Technology, Inc. (NASDAQ:ALKT)

D. E. Shaw & Co. Inc. bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 227,704 shares of the company's stock, valued at approximately $8,352,000. D. E. Shaw & Co. Inc. owned approximately 0.23% of Alkami Technology at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Deutsche Bank AG increased its holdings in shares of Alkami Technology by 75.6% in the fourth quarter. Deutsche Bank AG now owns 166,336 shares of the company's stock valued at $6,101,000 after purchasing an additional 71,621 shares during the period. Driehaus Capital Management LLC raised its position in Alkami Technology by 16.7% during the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after buying an additional 299,728 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Alkami Technology during the 4th quarter valued at approximately $1,033,000. Bosun Asset Management LLC boosted its holdings in shares of Alkami Technology by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after acquiring an additional 313 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Alkami Technology during the fourth quarter worth $467,000. 54.97% of the stock is owned by institutional investors.

Alkami Technology Stock Down 0.6%

Alkami Technology stock traded down $0.19 during midday trading on Monday, reaching $30.70. The company's stock had a trading volume of 586,336 shares, compared to its average volume of 849,532. The company has a market cap of $3.16 billion, a P/E ratio of -65.32 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 business has a 50-day simple moving average of $26.33 and a 200-day simple moving average of $32.44. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share 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 analysts' expectations of $89.63 million. On average, research analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO W Bryan Hill sold 17,409 shares of the firm's 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 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 position. The disclosure for this sale can be found here. 18.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Needham & Company LLC reduced their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Stephens upgraded 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 research report on Thursday, March 13th. Lake Street Capital dropped their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group cut their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Alkami Technology currently has an average rating of "Moderate Buy" and an average price target of $39.88.

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.