Y Intercept Hong Kong Ltd Purchases New Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Y Intercept Hong Kong Ltd purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 19,700 shares of the company’s stock, valued at approximately $723,000.

Several other institutional investors have also made changes to their positions in ALKT. Advisors Asset Management Inc. boosted its stake in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares during the period. Blue Trust Inc. raised its position in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares in the last quarter. Covestor Ltd raised its position in Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after purchasing an additional 2,646 shares in the last quarter. Icon Wealth Advisors LLC acquired a new position in Alkami Technology during the third quarter valued at approximately $155,000. Finally, Harbor Capital Advisors Inc. raised its position in Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after purchasing an additional 691 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALKT has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Alkami Technology Stock Up 6.5 %

ALKT opened at $30.84 on Friday. The company has a 50 day moving average of $34.85 and a 200 day moving average of $34.99. The company has a market cap of $3.10 billion, a PE ratio of -65.62 and a beta of 0.47. Alkami Technology, Inc. has a 12 month low of $22.65 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 announced 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). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. On average, sell-side analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, insider Stephen Bohanon sold 15,491 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.37, for a total transaction of $594,389.67. Following the completion of the transaction, the insider now directly owns 358,204 shares of the company’s stock, valued at approximately $13,744,287.48. This represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the transaction, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 283,298 shares of company stock worth $10,600,144. Corporate insiders own 25.90% 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.