Dimensional Fund Advisors LP Acquires 22,419 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Dimensional Fund Advisors LP raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,156,236 shares of the company's stock after buying an additional 22,419 shares during the period. Dimensional Fund Advisors LP owned about 1.15% of Alkami Technology worth $42,409,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Champlain Investment Partners LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth $57,772,000. Canada Pension Plan Investment Board bought a new position in Alkami Technology in the 4th quarter worth about $1,607,000. Wasatch Advisors LP lifted its position in shares of Alkami Technology by 16.6% in the 4th quarter. Wasatch Advisors LP now owns 1,586,789 shares of the company's stock worth $58,203,000 after purchasing an additional 225,992 shares during the period. Jump Financial LLC grew its position in shares of Alkami Technology by 124.9% in the 4th quarter. Jump Financial LLC now owns 116,647 shares of the company's stock worth $4,279,000 after buying an additional 64,772 shares during the last quarter. Finally, Mariner LLC grew its stake in Alkami Technology by 25.3% during the 4th 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. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT traded down $0.15 on Friday, hitting $29.29. The company had a trading volume of 215,720 shares, compared to its average volume of 835,255. Alkami Technology, Inc. has a 1-year low of $21.70 and a 1-year high of $42.29. 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 50 day moving average price of $25.88 and a 200 day moving average price of $32.84. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -62.32 and a beta of 0.56.

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 analysts' consensus estimates of $0.08 by ($0.13). The company 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%. Analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Lake Street Capital dropped their price objective on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC decreased their price target 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, May 1st. Barclays lowered their target price on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. 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 research report on Monday, March 3rd. Finally, Stephens upgraded shares of 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 17,409 shares of Alkami Technology 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 transaction, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, 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. 18.10% of the stock is owned by insiders.

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.