D. E. Shaw & Co. Inc. Invests $8.35 Million in Alkami Technology, Inc. (NASDAQ:ALKT)

D. E. Shaw & Co. Inc. bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 227,704 shares of the company’s stock, valued at approximately $8,352,000. D. E. Shaw & Co. Inc. owned approximately 0.23% of Alkami Technology as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ALKT. Bosun Asset Management LLC raised its stake in Alkami Technology by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company’s stock valued at $849,000 after buying an additional 313 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of Alkami Technology in the 4th quarter valued at $34,000. Summit Investment Advisors Inc. increased 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 during the last quarter. Mariner LLC grew its position in 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 during the last quarter. Finally, Quarry LP bought a new stake in Alkami Technology during the 4th quarter worth $61,000. Institutional investors own 54.97% of the company’s stock.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 17,409 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the sale, the insider now 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.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $30.49 on Friday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $26.18 and a two-hundred day simple moving average of $32.57. Alkami Technology, Inc. has a 1-year low of $21.70 and a 1-year high of $42.29. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -64.87 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT) last released its 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). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The firm had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. Analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research report on Thursday, March 13th. Needham & Company LLC dropped their price target on Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price target on shares of Alkami Technology in a research note 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 for the company in a report on Monday, March 3rd. Finally, Lake Street Capital decreased their price objective on Alkami Technology from $47.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.88.

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.