Los Angeles Capital Management LLC Reduces Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Los Angeles Capital Management LLC reduced its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,145 shares of the company’s stock after selling 14,940 shares during the period. Los Angeles Capital Management LLC owned approximately 0.05% of Alkami Technology worth $1,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Beaird Harris Wealth Management LLC boosted its stake in shares of Alkami Technology by 31.7% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the last quarter. Swiss National Bank boosted its stake in shares of Alkami Technology by 1.1% in the 3rd quarter. Swiss National Bank now owns 91,900 shares of the company’s stock worth $1,674,000 after buying an additional 1,000 shares during the last quarter. Penbrook Management LLC boosted its stake in shares of Alkami Technology by 2.3% in the 4th quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock worth $1,502,000 after buying an additional 1,400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Alkami Technology by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock worth $322,000 after buying an additional 1,494 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Alkami Technology by 26.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company’s stock worth $167,000 after buying an additional 1,915 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Craig Hallum boosted their price target on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. William Blair reissued an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Needham & Company LLC boosted their price target on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group lowered Alkami Technology from a “buy” rating to a “neutral” rating and boosted their price target for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.90.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 71,030 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $26.83, for a total value of $1,905,734.90. Following the sale, the insider now directly owns 262,749 shares in the company, valued at $7,049,555.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Stephen Bohanon sold 29,052 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the transaction, the insider now directly owns 434,823 shares in the company, valued at $10,009,625.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 71,030 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the transaction, the insider now directly owns 262,749 shares in the company, valued at approximately $7,049,555.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,764 shares of company stock worth $4,564,599. Corporate insiders own 25.90% of the company’s stock.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $26.57 on Thursday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -44.28 and a beta of 0.40. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $24.21 and a 200-day moving average price of $23.61. Alkami Technology, Inc. has a twelve month low of $11.97 and a twelve month high of $27.94.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) earnings per share. As a group, equities research analysts predict that Alkami Technology, Inc. will post -0.41 EPS for the current fiscal year.

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.