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 Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 115,936 shares of the company's stock, valued at approximately $4,253,000. Alkami Technology accounts for about 2.7% of Sovereign s Capital Management LLC's investment portfolio, making the stock its 7th biggest holding. Sovereign s Capital Management LLC owned about 0.12% of Alkami Technology as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new stake in Alkami Technology in the fourth quarter valued at approximately $1,894,000. Tidal Investments LLC purchased a new stake in Alkami Technology in the fourth quarter valued at approximately $524,000. Sandia Investment Management LP purchased a new stake in Alkami Technology in the fourth quarter valued at approximately $367,000. Royal Bank of Canada lifted its position in Alkami Technology by 2.3% during the fourth quarter. Royal Bank of Canada now owns 699,335 shares of the company's stock valued at $25,652,000 after buying an additional 15,949 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Alkami Technology during the fourth quarter valued at approximately $1,440,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Stock Down 0.7%

Shares of NASDAQ ALKT traded down $0.19 during trading on Friday, reaching $29.02. 623,570 shares of the stock were exchanged, compared to its average volume of 851,480. The business's 50-day moving average price is $26.80 and its 200 day moving average price is $32.26. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. 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 company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -61.74 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) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The firm had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. As a group, equities analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 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 $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. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Lake Street Capital reduced their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group reduced their price target 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. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. Needham & Company LLC reduced 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 report on Thursday, May 1st. Finally, Stephens raised 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 report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Alkami Technology has a consensus rating of "Moderate Buy" and a consensus target price 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.