Driehaus Capital Management LLC Acquires 299,728 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Driehaus Capital Management LLC raised its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,093,426 shares of the company's stock after purchasing an additional 299,728 shares during the period. Driehaus Capital Management LLC owned 2.08% of Alkami Technology worth $76,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Essex Investment Management Co. LLC bought a new position in Alkami Technology during the fourth quarter valued at $34,000. Quarry LP purchased a new position in shares of Alkami Technology during the fourth quarter valued at approximately $61,000. Blue Trust Inc. raised its holdings in shares of Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock worth $117,000 after buying an additional 1,974 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Alkami Technology by 73.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock worth $148,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in Alkami Technology during the 4th quarter valued at $203,000. 54.97% of the stock is owned by institutional investors.

Insider Activity at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO W Bryan Hill sold 17,409 shares of Alkami Technology 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 $529,407.69. Following the sale, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALKT shares. Stephens raised 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 note on Thursday, March 13th. Barclays reduced their price objective 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. JMP Securities reissued a "market outperform" rating and issued a $46.00 price target on shares of Alkami Technology in a report on Thursday, May 1st. Lake Street Capital reduced their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Needham & Company LLC cut their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Two equities research 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, Alkami Technology has an average rating of "Moderate Buy" and an average target price of $39.88.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $28.05 on Thursday. The business has a 50-day simple moving average of $25.88 and a 200-day simple moving average of $32.90. The company has a market cap of $2.89 billion, a PE ratio of -59.69 and a beta of 0.56. Alkami Technology, Inc. has a one year low of $21.70 and a one year high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

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 analysts' consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. On average, equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal 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.

Want to see what other hedge funds are holding ALKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alkami Technology, Inc. (NASDAQ:ALKT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.