Nicholas Investment Partners LP Raises Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Nicholas Investment Partners LP increased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 46.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,013 shares of the company's stock after acquiring an additional 63,758 shares during the period. Nicholas Investment Partners LP owned approximately 0.20% of Alkami Technology worth $7,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. raised its holdings in Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock worth $99,305,000 after purchasing an additional 2,661,027 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Alkami Technology in the fourth quarter worth approximately $57,772,000. Invesco Ltd. raised its stake in Alkami Technology by 353.1% during the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company's stock worth $53,411,000 after acquiring an additional 1,134,746 shares during the period. JPMorgan Chase & Co. raised its stake in Alkami Technology by 278.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company's stock worth $52,649,000 after acquiring an additional 1,055,828 shares during the period. Finally, Vanguard Group Inc. increased its stake in Alkami Technology by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after acquiring an additional 843,129 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALKT. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. 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 research note on Thursday, March 13th. Needham & Company LLC lowered their target price 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. 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, Barclays lowered their price target 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.88.

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares of the company's stock, valued at $13,703,354.20. This represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph P. Payne bought 8,200 shares of Alkami Technology stock in a transaction dated Thursday, May 15th. The stock was purchased at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the acquisition, the director now directly owns 21,128 shares of the company's stock, valued at approximately $643,558.88. The trade was a 63.43% increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.10% of the company's stock.

Alkami Technology Trading Down 0.1%

Alkami Technology stock traded down $0.03 during mid-day trading on Monday, hitting $30.86. The stock had a trading volume of 159,285 shares, compared to its average volume of 847,872. The stock has a market capitalization of $3.18 billion, a PE ratio of -65.77 and a beta of 0.56. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $26.33 and a two-hundred day simple moving average of $32.44. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share 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 company had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. As a group, sell-side analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current year.

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.