Arlington Capital Management Inc. Purchases Shares of 52,835 Alkami Technology, Inc. (NASDAQ:ALKT)

Arlington Capital Management Inc. bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 52,835 shares of the company's stock, valued at approximately $1,281,000. Alkami Technology accounts for 1.2% of Arlington Capital Management Inc.'s investment portfolio, making the stock its 24th biggest position. Arlington Capital Management Inc. owned about 0.06% of Alkami Technology at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ALKT. Lord Abbett & CO. LLC purchased a new position in Alkami Technology during the 3rd quarter valued at about $5,484,000. Massachusetts Financial Services Co. MA increased its holdings in Alkami Technology by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company's stock worth $40,900,000 after acquiring an additional 217,123 shares during the period. Federated Hermes Inc. purchased a new stake in Alkami Technology in the 4th quarter worth approximately $3,738,000. Roubaix Capital LLC bought a new position in Alkami Technology in the 3rd quarter valued at $2,670,000. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Alkami Technology during the 3rd quarter valued at $2,217,000. Institutional investors own 54.97% of the company's stock.

Alkami Technology Trading Down 0.8 %

Alkami Technology stock traded down $0.20 during mid-day trading on Thursday, hitting $26.37. The company's stock had a trading volume of 419,273 shares, compared to its average volume of 335,390. The business has a 50 day moving average price of $24.26 and a 200-day moving average price of $23.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. Alkami Technology, Inc. has a 12 month low of $12.53 and a 12 month high of $27.94. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -43.95 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The company had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. During the same quarter in the previous year, the company posted ($0.16) EPS. Alkami Technology's revenue for the quarter was up 26.8% on a year-over-year basis. As a group, analysts forecast that Alkami Technology, Inc. will post -0.41 EPS for the current year.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the company's stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the completion of the sale, the director now directly owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the company's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the completion of the transaction, the director now owns 17,186,985 shares of the company's stock, valued at approximately $455,970,712.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 71,030 shares of Alkami Technology stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the sale, the insider now owns 262,749 shares in the company, valued at $7,049,555.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,726,585 shares of company stock valued at $45,495,640. 25.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on ALKT. TheStreet raised Alkami Technology from a "d" rating to a "c-" rating in a research note on Thursday, February 29th. The Goldman Sachs Group lowered Alkami Technology from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. JMP Securities reaffirmed a "market outperform" rating and issued a $30.00 target price on shares of Alkami Technology in a research note on Monday, April 15th. Barclays boosted their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC raised their price objective on shares of Alkami Technology from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $26.90.

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.