Susquehanna Fundamental Investments LLC Takes Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Susquehanna Fundamental Investments LLC purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,386 shares of the company's stock, valued at approximately $858,000.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings 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 buying an additional 313,478 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Alkami Technology during the fourth quarter worth about $595,000. Principal Financial Group Inc. purchased a new stake in shares of Alkami Technology in the third quarter worth about $875,000. Bank of New York Mellon Corp lifted its position in shares of Alkami Technology by 86.8% in the 4th quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock worth $10,595,000 after buying an additional 134,198 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Alkami Technology by 16.9% in the fourth quarter. Rhumbline Advisers now owns 75,352 shares of the company's stock worth $2,764,000 after purchasing an additional 10,891 shares during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 4,358 shares of the business'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 $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares of the company's stock, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the transaction, the chief financial officer now directly owns 450,620 shares of the company's stock, valued at approximately $13,703,354.20. The trade was a 3.72 % 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.

Analysts Set New Price Targets

ALKT has been the topic of a number of analyst reports. Lake Street Capital lowered their target price on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Barclays cut their price objective on shares of 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 raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. Needham & Company LLC cut their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group cut their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $39.88.

Alkami Technology Stock Performance

Shares of Alkami Technology stock traded up $1.17 during trading hours on Thursday, reaching $29.17. 270,415 shares of the stock traded hands, compared to its average volume of 834,112. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -62.06 and a beta of 0.56. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a one year low of $21.70 and a one year high of $42.29. The company has a 50 day moving average price of $25.88 and a 200 day moving average price of $32.90.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. On average, equities research analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal 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.