Cubist Systematic Strategies LLC Acquires New Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Cubist Systematic Strategies LLC acquired a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 28,165 shares of the company’s stock, valued at approximately $1,033,000.

A number of other hedge funds also recently made changes to their positions in the stock. Bosun Asset Management LLC lifted its holdings in Alkami Technology by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company’s stock worth $849,000 after purchasing an additional 313 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Alkami Technology by 10.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after purchasing an additional 615 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Alkami Technology in the 4th quarter worth approximately $34,000. Summit Investment Advisors Inc. lifted its holdings in Alkami Technology by 28.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock worth $204,000 after purchasing an additional 1,238 shares in the last quarter. Finally, Mariner LLC raised its holdings in shares of Alkami Technology by 25.3% during the 4th quarter. Mariner LLC now owns 8,080 shares of the company’s stock worth $296,000 after acquiring an additional 1,630 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ALKT shares. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. Needham & Company LLC decreased their price objective on Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Lake Street Capital decreased their price objective on Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a 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. According to MarketBeat, Alkami Technology presently has an average rating of “Moderate Buy” and a consensus price target of $39.88.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $31.19 on Wednesday. The company has a market cap of $3.21 billion, a P/E ratio of -66.36 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The business’s 50 day moving average price is $25.98 and its 200-day moving average price is $32.64. 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 released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share 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 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%. Sell-side analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Activity

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 450,620 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 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 $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.10% of the company’s stock.

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.