Brevan Howard Capital Management LP Buys Shares of 12,730 Alkami Technology, Inc. (NASDAQ:ALKT)

Brevan Howard Capital Management LP purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, Holdings Channel reports. The fund purchased 12,730 shares of the company’s stock, valued at approximately $467,000.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALKT. Lake Street Capital cut their price objective 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. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. Needham & Company LLC lowered their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Stephens upgraded 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 lowered their price target on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.88.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the transaction, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 17,409 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at $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. 18.10% of the stock is currently owned by insiders.

Alkami Technology Stock Performance

ALKT opened at $29.41 on Friday. 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 cap of $3.03 billion, a PE ratio of -62.57 and a beta of 0.56. The business has a fifty day simple moving average of $25.89 and a 200-day simple moving average of $32.78. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly 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). The company had revenue of $89.66 million during 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%. As a group, equities analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

About Alkami Technology

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.