Voloridge Investment Management LLC Buys 227,420 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Voloridge Investment Management LLC increased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 70.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 548,378 shares of the company's stock after purchasing an additional 227,420 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.55% of Alkami Technology worth $20,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALKT. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology during the 4th quarter valued at approximately $34,000. Quarry LP purchased a new stake in shares of Alkami Technology during the 4th quarter valued at approximately $61,000. Blue Trust Inc. lifted its stake in shares of Alkami Technology by 162.6% during the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after buying an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Alkami Technology by 73.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock valued at $148,000 after buying an additional 1,710 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Alkami Technology during the 4th quarter valued at approximately $203,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Lake Street Capital dropped their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. 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. Barclays decreased their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Stephens raised 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 report on Thursday, March 13th. Finally, Needham & Company LLC reduced their target price on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $39.88.

Alkami Technology Trading Down 0.5%

Shares of NASDAQ:ALKT traded down $0.15 on Wednesday, hitting $29.09. The company had a trading volume of 125,235 shares, compared to its average volume of 850,064. The firm's 50-day simple moving average is $26.92 and its two-hundred day simple moving average is $32.09. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -61.40 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings results 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 net margin of 14.55% and a negative return on equity of 11.31%. The business had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. Equities analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the firm's 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. This 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 owned by company 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.