Squarepoint Ops LLC Invests $1.89 Million in Alkami Technology, Inc. (NASDAQ:ALKT)

Squarepoint Ops 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 Securities and Exchange Commission. The firm bought 51,648 shares of the company's stock, valued at approximately $1,894,000. Squarepoint Ops LLC owned 0.05% of Alkami Technology at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALKT. Vanguard Group Inc. grew its holdings in Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock valued at $273,187,000 after buying an additional 843,129 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Alkami Technology by 5,747.1% during the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after buying an additional 2,661,027 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Alkami Technology by 16.7% in the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after purchasing an additional 299,728 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Alkami Technology by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock worth $66,457,000 after purchasing an additional 6,970 shares during the period. Finally, Wasatch Advisors LP boosted its holdings 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. Institutional investors own 54.97% of the company's stock.

Insiders Place Their Bets

In other news, Director Joseph P. Payne bought 8,200 shares of the stock in a transaction on Thursday, May 15th. The stock was acquired at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the acquisition, the director now owns 21,128 shares of the company's stock, valued at $643,558.88. This represents a 63.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 7,170 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $203,341.20. Following the completion of the sale, the insider now owns 238,172 shares of the company's stock, valued at $6,754,557.92. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,690 shares of company stock worth $785,288. 18.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ALKT shares. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a 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 for the company in a report on Thursday, May 1st. The Goldman Sachs Group dropped their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Barclays dropped their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Needham & Company LLC dropped their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.88.

Alkami Technology Trading Up 1.9%

ALKT traded up $0.55 during trading hours on Tuesday, reaching $28.94. 598,522 shares of the company's stock traded hands, compared to its average volume of 859,699. The firm has a 50-day moving average price of $27.07 and a 200 day moving average price of $31.79. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week 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 firm has a market capitalization of $2.98 billion, a PE ratio of -61.57 and a beta of 0.56.

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.