Point72 Asset Management L.P. Makes New $1.44 Million Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Point72 Asset Management L.P. bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,254 shares of the company's stock, valued at approximately $1,440,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bosun Asset Management LLC boosted its position in shares of Alkami Technology by 1.4% during the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after buying an additional 313 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in Alkami Technology during the fourth quarter valued at approximately $34,000. Summit Investment Advisors Inc. boosted its holdings in Alkami Technology by 28.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock worth $204,000 after purchasing an additional 1,238 shares during the last quarter. Mariner LLC grew its position in Alkami Technology by 25.3% in the 4th quarter. Mariner LLC now owns 8,080 shares of the company's stock worth $296,000 after purchasing an additional 1,630 shares during the period. Finally, Quarry LP purchased a new stake in Alkami Technology during the 4th quarter valued at $61,000. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Trading Down 2.9%

Alkami Technology stock opened at $29.86 on Thursday. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month high of $42.29. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -63.53 and a beta of 0.56. The firm has a 50 day moving average of $26.66 and a 200 day moving average of $32.37. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The firm had revenue of $89.66 million during the quarter, compared to analysts' expectations of $89.63 million. As a group, research analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Joseph P. Payne bought 8,200 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $30.46 per share, with a total value of $249,772.00. Following the purchase, the director now owns 21,128 shares of the company's stock, valued at $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the business's 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 $529,407.69. Following the completion of the transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on ALKT. Barclays cut their price objective 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. Lake Street Capital reduced their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group dropped their price objective 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. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a research report on Thursday, March 13th. Finally, Needham & Company LLC decreased 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $39.88.

Alkami Technology Company 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.

Want to see what other hedge funds are holding ALKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alkami Technology, Inc. (NASDAQ:ALKT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.