Sandia Investment Management LP Takes $367,000 Position 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 the company in its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the company's stock, valued at approximately $367,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology during the 4th quarter worth about $34,000. Quarry LP bought a new stake in Alkami Technology in the 4th quarter valued at about $61,000. Blue Trust Inc. boosted its holdings in Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company's stock valued at $117,000 after purchasing an additional 1,974 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Alkami Technology by 73.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock valued at $148,000 after purchasing an additional 1,710 shares during the period. Finally, Bank of Montreal Can bought a new stake in Alkami Technology in the 4th quarter valued at about $203,000. Institutional investors own 54.97% of the company's stock.

Alkami Technology Price Performance

ALKT stock traded up $0.05 during trading on Tuesday, reaching $30.75. 716,512 shares of the company were exchanged, compared to its average volume of 847,869. The company has a 50-day moving average of $26.46 and a two-hundred day moving average of $32.40. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -65.43 and a beta of 0.56. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

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 analysts' consensus estimates of $0.08 by ($0.13). The company 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%. As a group, equities analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. This represents a 3.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now 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. Corporate insiders own 18.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on ALKT shares. Needham & Company LLC cut their price objective 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. JMP Securities reissued a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. The Goldman Sachs Group cut their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a research report on Thursday, March 13th. Finally, Barclays dropped their target price on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.