North Reef Capital Management LP Cuts Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

North Reef Capital Management LP decreased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 139,416 shares of the company's stock after selling 60,584 shares during the quarter. North Reef Capital Management LP owned about 0.14% of Alkami Technology worth $5,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock valued at $11,971,000 after purchasing an additional 313,478 shares during the period. Diversified Trust Co purchased a new stake in Alkami Technology in the fourth quarter valued at $595,000. Principal Financial Group Inc. purchased a new stake in Alkami Technology in the third quarter valued at $875,000. Stifel Financial Corp purchased a new stake in Alkami Technology in the third quarter valued at $223,000. Finally, Bank of New York Mellon Corp raised its position in Alkami Technology by 86.8% in the fourth quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock valued at $10,595,000 after purchasing an additional 134,198 shares during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALKT. Barclays cut their price objective 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. Stephens upgraded 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. Finally, The Goldman Sachs Group cut their price objective on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $40.38.

Alkami Technology Stock Performance

ALKT remained flat at $26.42 on Wednesday. The company had a trading volume of 356,253 shares, compared to its average volume of 812,321. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29. The stock has a market capitalization of $2.72 billion, a P/E ratio of -56.21 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 business has a fifty day moving average price of $26.23 and a 200-day moving average price of $33.19.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Equities analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares of the company's stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.10% of the company's stock.

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.