Castleark Management LLC Purchases 13,980 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Castleark Management LLC grew its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,800 shares of the company's stock after purchasing an additional 13,980 shares during the period. Castleark Management LLC owned approximately 0.20% of Alkami Technology worth $7,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALKT. PharVision Advisers LLC bought a new position in Alkami Technology in the 4th quarter valued at $260,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alkami Technology by 38.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,939 shares of the company's stock worth $4,326,000 after buying an additional 32,617 shares in the last quarter. Voloridge Investment Management LLC lifted its position in Alkami Technology by 70.9% during the fourth quarter. Voloridge Investment Management LLC now owns 548,378 shares of the company's stock valued at $20,115,000 after buying an additional 227,420 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth approximately $78,878,000. Finally, Sovereign s Capital Management LLC purchased a new stake in Alkami Technology during the 4th quarter valued at about $4,253,000. Institutional investors own 54.97% of the company's stock.

Insider Buying and Selling

In other news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 244,404 shares of the company's stock, valued at approximately $7,432,325.64. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the sale, 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 disclosure for this sale can be found here. 18.10% of the stock is currently owned by company insiders.

Alkami Technology Stock Down 0.7%

Alkami Technology stock traded down $0.19 during midday trading on Monday, hitting $29.02. 623,570 shares of the stock were exchanged, compared to its average volume of 853,826. The firm has a market cap of $2.99 billion, a P/E ratio of -61.74 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. The company has a 50 day moving average price of $26.80 and a two-hundred day moving average price of $32.17. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. On average, sell-side analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALKT has been the topic of a number of analyst reports. Needham & Company LLC lowered their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Stephens upgraded 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 note on Thursday, March 13th. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 target price on shares of Alkami Technology in a research report on Thursday, May 1st. Barclays lowered their price target 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, The Goldman Sachs Group cut their price target on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Alkami Technology has a consensus rating of "Moderate Buy" and a consensus price target of $39.88.

About Alkami Technology

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.