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

Voloridge Investment Management LLC boosted its position in 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 Securities & Exchange Commission. The firm owned 548,378 shares of the company's stock after buying an additional 227,420 shares during the period. Voloridge Investment Management LLC owned approximately 0.55% of Alkami Technology worth $20,115,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology during the 4th quarter valued at about $34,000. Quarry LP acquired a new stake in Alkami Technology in the fourth quarter worth $61,000. Blue Trust Inc. increased its stake in Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after purchasing an additional 1,974 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Alkami Technology by 73.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock valued at $148,000 after purchasing an additional 1,710 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Alkami Technology during the 4th quarter worth about $203,000. Institutional investors own 54.97% of the company's stock.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 17,409 shares of the company'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 transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph P. Payne purchased 8,200 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the transaction, the director now directly owns 21,128 shares in the company, valued at approximately $643,558.88. The trade was 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 insiders.

Alkami Technology Stock Up 0.2%

ALKT stock traded up $0.07 during trading on Tuesday, reaching $29.09. The stock had a trading volume of 328,971 shares, compared to its average volume of 851,847. 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 company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -61.84 and a beta of 0.56. Alkami Technology, Inc. has a one year low of $21.70 and a one year high of $42.29. The company's 50 day moving average is $26.86 and its two-hundred day moving average is $32.11.

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

Analyst Ratings Changes

A number of analysts recently commented on ALKT shares. Needham & Company LLC decreased their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Lake Street Capital lowered their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective on the stock in a report on Thursday, March 13th. Barclays reduced 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. Finally, JMP Securities restated a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Alkami Technology 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.