2,150,440 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Bought by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,150,440 shares of the company's stock, valued at approximately $78,878,000. Whale Rock Capital Management LLC owned 2.14% of Alkami Technology at the end of the most recent quarter.

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

Alkami Technology Stock Down 0.7%

NASDAQ:ALKT traded down $0.19 during trading hours on Friday, hitting $29.02. 623,570 shares of the stock traded hands, compared to its average volume of 853,826. The firm has a 50 day moving average price of $26.80 and a 200 day moving average price of $32.21. 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, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -61.74 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced 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). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. Equities research analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO W Bryan Hill sold 17,409 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC dropped their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group dropped their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Barclays dropped their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price target on shares of Alkami Technology in a report on Thursday, May 1st. Finally, Lake Street Capital dropped their price target on Alkami Technology from $47.00 to $41.00 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. According to data from MarketBeat, the stock currently has an average 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.