Sandia Investment Management LP Invests $367,000 in Alkami Technology, Inc. (NASDAQ:ALKT)

Sandia Investment Management LP acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company's stock, valued at approximately $367,000.

A number of other hedge funds have also recently made changes to their positions in ALKT. Bosun Asset Management LLC increased its stake in shares of Alkami Technology by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock worth $849,000 after buying an additional 313 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth approximately $34,000. Summit Investment Advisors Inc. grew its stake in shares of Alkami Technology by 28.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock worth $204,000 after acquiring an additional 1,238 shares during the last quarter. Mariner LLC increased its stake in Alkami Technology by 25.3% during the 4th quarter. Mariner LLC now owns 8,080 shares of the company's stock valued at $296,000 after purchasing an additional 1,630 shares in the last quarter. Finally, Quarry LP bought a new position in Alkami Technology in the 4th quarter valued at approximately $61,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALKT shares. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a report on Thursday, March 13th. Barclays reduced 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. 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 research note on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Alkami Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.88.

Alkami Technology Price Performance

Shares of NASDAQ ALKT traded down $0.31 during midday trading on Thursday, hitting $29.55. The company had a trading volume of 187,586 shares, compared to its average volume of 846,701. The business has a 50-day simple moving average of $26.66 and a two-hundred day simple moving average of $32.37. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. 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 firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -62.86 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued 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 firm 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 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 Alkami Technology news, Director Joseph P. Payne bought 8,200 shares of Alkami Technology stock in a transaction that occurred on 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 completion of the transaction, the director now owns 21,128 shares of the company's stock, valued at $643,558.88. This represents a 63.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares of the company's stock, valued at approximately $7,432,325.64. This represents a 1.75% decrease in their position. 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.