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

Castleark Management LLC raised its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 205,800 shares of the company's stock after acquiring an additional 13,980 shares during the quarter. Castleark Management LLC owned about 0.20% of Alkami Technology worth $7,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PharVision Advisers LLC bought a new position in shares of Alkami Technology in the 4th quarter worth $260,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Alkami Technology by 38.2% during 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 during the last quarter. Voloridge Investment Management LLC grew its position in shares of Alkami Technology by 70.9% during the 4th quarter. Voloridge Investment Management LLC now owns 548,378 shares of the company's stock worth $20,115,000 after buying an additional 227,420 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Alkami Technology during the 4th quarter worth about $78,878,000. Finally, Sovereign s Capital Management LLC bought a new stake in shares of Alkami Technology in the 4th quarter valued at about $4,253,000. 54.97% of the stock is owned by institutional investors.

Alkami Technology Stock Up 0.2%

ALKT opened at $30.75 on Wednesday. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. The company's 50-day moving average price is $26.57 and its two-hundred day moving average price is $32.38. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -65.43 and a beta of 0.56. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS 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 analysts' expectations of $89.63 million. As a group, equities analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the business'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 sale, the insider now owns 244,404 shares of the company's stock, valued at $7,432,325.64. The trade was a 1.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph P. Payne purchased 8,200 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $30.46 per share, with a total value of $249,772.00. Following the completion of the acquisition, the director now directly owns 21,128 shares of the company's stock, valued at approximately $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ALKT shares. Barclays decreased 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 report on Monday, April 14th. The Goldman Sachs Group dropped their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. JMP Securities reissued a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. Needham & Company LLC reduced their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Stephens upgraded 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 note on Thursday, March 13th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently 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.

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