39,254 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Purchased by Point72 Asset Management L.P.

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

A number of other institutional investors have also added to or reduced their stakes in the company. Bosun Asset Management LLC grew its position in Alkami Technology by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock worth $849,000 after purchasing an additional 313 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Alkami Technology during the 4th quarter valued at approximately $34,000. Summit Investment Advisors Inc. grew its position in shares of Alkami Technology by 28.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock valued at $204,000 after acquiring an additional 1,238 shares during the period. Mariner LLC grew its position in shares of Alkami Technology by 25.3% during the 4th quarter. Mariner LLC now owns 8,080 shares of the company's stock valued at $296,000 after acquiring an additional 1,630 shares during the period. Finally, Quarry LP bought a new position in shares of Alkami Technology during the 4th quarter valued at approximately $61,000. 54.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALKT has been the subject of several analyst reports. Needham & Company LLC cut their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a report on Thursday, March 13th. JMP Securities reissued a "market outperform" rating and issued a $46.00 price target on shares of Alkami Technology in a report on Thursday, May 1st. Lake Street Capital cut their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $39.88.

Alkami Technology Trading Up 1.1%

NASDAQ:ALKT traded up $0.31 during trading hours on Tuesday, reaching $29.33. The company's stock had a trading volume of 81,849 shares, compared to its average volume of 850,790. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -62.23 and a beta of 0.56. The firm has a 50-day simple moving average of $26.86 and a 200-day simple moving average of $32.11. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

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

Insider Buying and Selling

In other news, 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 of the company's stock, valued at approximately $13,703,354.20. The trade was a 3.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph P. Payne bought 8,200 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were bought at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the purchase, the director now directly owns 21,128 shares in the company, valued at approximately $643,558.88. This represents a 63.43% increase in their position. The disclosure for this purchase can be found here. 18.10% of the stock is owned by corporate insiders.

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.