Captrust Financial Advisors Acquires 66,170 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Captrust Financial Advisors increased its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 232.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,652 shares of the company’s stock after purchasing an additional 66,170 shares during the quarter. Captrust Financial Advisors’ holdings in Alkami Technology were worth $3,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caxton Associates LP increased its stake in shares of Alkami Technology by 50.4% in the fourth quarter. Caxton Associates LP now owns 29,676 shares of the company’s stock valued at $1,089,000 after buying an additional 9,949 shares during the period. Balyasny Asset Management L.P. bought a new position in Alkami Technology during the 4th quarter worth approximately $550,000. Bayesian Capital Management LP acquired a new position in shares of Alkami Technology in the 4th quarter worth approximately $575,000. Bank of America Corp DE boosted its stake in shares of Alkami Technology by 7.1% in the 4th quarter. Bank of America Corp DE now owns 229,629 shares of the company’s stock valued at $8,423,000 after purchasing an additional 15,293 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Alkami Technology during the fourth quarter worth $4,900,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Price Performance

ALKT stock opened at $29.41 on Friday. The firm has a 50 day moving average of $25.89 and a 200-day moving average of $32.74. The firm has a market capitalization of $3.03 billion, a P/E ratio of -62.57 and a beta of 0.56. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results 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 business had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. As a group, sell-side analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALKT has been the topic of several recent analyst reports. Lake Street Capital dropped their target price on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Barclays cut their target price 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. JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Finally, Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research report on Thursday, March 13th. 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 has an average rating of “Moderate Buy” and an average target price of $39.88.

Insiders Place Their Bets

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction that occurred on 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 owns 450,620 shares in the company, valued at approximately $13,703,354.20. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction 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 sale, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. 18.10% of the stock is owned by insiders.

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.