Chicago Capital LLC Grows Position in Alkami Technology, Inc. $ALKT

Key Points

• Chicago Capital LLC boosted its Alkami stake 25.5% in Q4 to 1,701,532 shares (about 1.62% of the company), valued at roughly $39.3 million.
• Insiders have been net buyers recently — Director Joseph P. Payne bought 5,500 shares and insiders acquired 3,351,515 shares versus 13,739 sold over the past three months, leaving insiders with about 18.1% ownership.
• The Street's consensus is a "Hold" with a $26.67 target after multiple firms cut price targets, leaving mixed analyst ratings (4 Buy, 3 Hold, 1 Sell).

Chicago Capital LLC grew its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 25.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,701,532 shares of the company's stock after buying an additional 346,245 shares during the period. Chicago Capital LLC owned 1.62% of Alkami Technology worth $39,254,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. CWM LLC boosted its holdings in Alkami Technology by 97.6% in the fourth quarter. CWM LLC now owns 1,942 shares of the company's stock valued at $45,000 after acquiring an additional 959 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in Alkami Technology by 3.7% in the fourth quarter. Tectonic Advisors LLC now owns 52,416 shares of the company's stock valued at $1,209,000 after acquiring an additional 1,857 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Alkami Technology by 1.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,570,754 shares of the company's stock worth $36,237,000 after purchasing an additional 15,380 shares in the last quarter. DDD Partners LLC acquired a new position in shares of Alkami Technology during the fourth quarter worth about $1,758,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Alkami Technology by 20.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 68,148 shares of the company's stock worth $1,572,000 after purchasing an additional 11,763 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Insider Transactions at Alkami Technology

In related news, Director Joseph P. Payne acquired 5,500 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $18.23 per share, for a total transaction of $100,265.00. Following the transaction, the director owned 26,628 shares of the company's stock, valued at approximately $485,428.44. The trade was a 26.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Cassandra Hudson sold 6,869 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total value of $116,086.10. Following the sale, the chief financial officer owned 286,757 shares of the company's stock, valued at $4,846,193.30. This trade represents a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 3,351,515 shares of company stock valued at $59,829,413 and sold 13,739 shares valued at $232,189. 18.10% of the stock is currently owned by company insiders.

Alkami Technology Stock Up 2.5%

NASDAQ:ALKT opened at $17.83 on Friday. The firm has a market capitalization of $1.91 billion, a PE ratio of -38.76 and a beta of 0.57. The stock has a 50 day moving average of $16.68 and a 200-day moving average of $20.00. Alkami Technology, Inc. has a 52 week low of $14.11 and a 52 week high of $31.66. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01.

Wall Street Analysts Forecast Growth

ALKT has been the topic of a number of recent research reports. Barclays reduced their price objective on Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Needham & Company LLC dropped their target price on Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. dropped their target price on Alkami Technology from $38.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. Finally, Citizens Jmp dropped their target price on Alkami Technology from $40.00 to $28.00 and set a "market outperform" rating on the stock in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Alkami Technology currently has a consensus rating of "Hold" and a consensus target price of $26.67.

Alkami Technology Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company's platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami's platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.

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