Pamalican Asset Management Ltd Takes $7.40 Million Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Pamalican Asset Management Ltd acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, HoldingsChannel reports. The fund acquired 201,810 shares of the company’s stock, valued at approximately $7,402,000. Alkami Technology makes up about 3.3% of Pamalican Asset Management Ltd’s investment portfolio, making the stock its 9th largest holding.

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Alkami Technology by 474.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after purchasing an additional 313,478 shares during the period. FMR LLC lifted its position in Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after buying an additional 141,319 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after acquiring an additional 173,394 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Alkami Technology during the 4th quarter valued at about $595,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alkami Technology by 29.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock valued at $16,854,000 after acquiring an additional 120,845 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Down 6.5 %

ALKT stock opened at $25.17 on Friday. The firm has a market capitalization of $2.57 billion, a PE ratio of -53.55 and a beta of 0.49. 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 business’s 50 day simple moving average is $30.10 and its 200 day simple moving average is $34.16. Alkami Technology, Inc. has a 1-year low of $22.86 and a 1-year high of $42.29.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALKT shares. JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a research report on Thursday, March 13th. Barclays decreased their price target on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group dropped their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Insider Activity

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, January 13th. The stock was 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 in the company, valued at approximately $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,767 shares of company stock worth $4,004,934. Insiders own 38.00% 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.