Sovereign s Capital Management LLC Invests $4.25 Million in Alkami Technology, Inc. (NASDAQ:ALKT)

Sovereign s Capital Management LLC bought a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 115,936 shares of the company's stock, valued at approximately $4,253,000. Alkami Technology accounts for approximately 2.7% of Sovereign s Capital Management LLC's holdings, making the stock its 7th largest position. Sovereign s Capital Management LLC owned approximately 0.12% of Alkami Technology as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Essex Investment Management Co. LLC acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $34,000. Quarry LP acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $61,000. Blue Trust Inc. increased its position 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 acquiring an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Alkami Technology by 73.7% in the fourth 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 in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Alkami Technology in the fourth quarter worth approximately $203,000. Institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Down 2.2%

ALKT traded down $0.65 on Thursday, reaching $29.21. 747,979 shares of the company traded hands, compared to its average volume of 851,042. The stock's 50 day moving average price is $26.66 and its 200-day moving average price is $32.37. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -62.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. On average, sell-side analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JMP Securities reissued a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a research report on Thursday, May 1st. The Goldman Sachs Group dropped their target price on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. 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 research report on Thursday, May 1st. Barclays dropped their target price on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $39.88.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Joseph P. Payne bought 8,200 shares of Alkami Technology stock in a transaction on Thursday, May 15th. The stock was purchased at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the purchase, the director now directly owns 21,128 shares of the company's stock, valued at $643,558.88. The trade was a 63.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 transaction of $529,407.69. Following the completion of the sale, the chief financial officer now owns 450,620 shares of the company's stock, valued at $13,703,354.20. This trade represents a 3.72% 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.

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.