1,575,028 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Acquired by Champlain Investment Partners LLC

Champlain Investment Partners LLC bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, Holdings Channel reports. The institutional investor bought 1,575,028 shares of the company’s stock, valued at approximately $57,772,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ALKT. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology during the 4th quarter worth $34,000. Blue Trust Inc. lifted its holdings in shares of Alkami Technology by 162.6% in the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after acquiring an additional 1,974 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Alkami Technology in the 4th quarter valued at approximately $203,000. Summit Investment Advisors Inc. boosted its stake in shares of Alkami Technology by 28.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company’s stock valued at $204,000 after purchasing an additional 1,238 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Alkami Technology during the 4th quarter valued at approximately $216,000. Institutional investors own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ALKT shares. The Goldman Sachs Group dropped 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 note on Monday, March 3rd. Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research note on Thursday, March 13th. Finally, Barclays cut their price objective on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.38.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $24.91 on Thursday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -53.00 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 twelve month low of $21.70 and a twelve month high of $42.29. The company’s fifty day moving average is $27.57 and its 200 day moving average is $33.61.

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 the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million during the quarter, compared to analyst estimates 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 forecast that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at $13,703,354.20. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 38.00% of the company’s stock.

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.