Raymond James & Associates Makes New $444,000 Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Raymond James & Associates purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,300 shares of the company’s stock, valued at approximately $444,000.

A number of other institutional investors and hedge funds have also modified their holdings of ALKT. Penbrook Management LLC grew its holdings in Alkami Technology by 2.3% in the 4th quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock valued at $1,502,000 after buying an additional 1,400 shares during the last quarter. SG Americas Securities LLC increased its position in Alkami Technology by 1,283.9% during the fourth quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock worth $2,030,000 after acquiring an additional 77,677 shares during the period. Vanguard Group Inc. raised its stake in Alkami Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock valued at $78,252,000 after purchasing an additional 31,069 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in Alkami Technology by 31.7% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the period. Finally, Bullseye Asset Management LLC grew its position in Alkami Technology by 80.4% in the 3rd quarter. Bullseye Asset Management LLC now owns 64,988 shares of the company’s stock worth $1,184,000 after purchasing an additional 28,962 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Price Performance

ALKT opened at $24.52 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.77 and a quick ratio of 3.77. The stock has a market capitalization of $2.39 billion, a P/E ratio of -37.15 and a beta of 0.40. The company’s 50 day simple moving average is $24.17 and its 200-day simple moving average is $23.13. Alkami Technology, Inc. has a one year low of $10.93 and a one year high of $26.75.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, February 28th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $71.37 million during the quarter, compared to the consensus estimate of $71.12 million. Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. Sell-side analysts anticipate that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several research reports. TheStreet upgraded Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. The Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and upped their target price for the company from $23.00 to $27.00 in a research note on Tuesday, January 23rd. KeyCorp raised their price target on shares of Alkami Technology from $21.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, January 8th. JMP Securities reiterated a “market outperform” rating and issued a $30.00 price objective on shares of Alkami Technology in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their target price on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.10.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total value of $1,197,627.99. Following the transaction, the chief financial officer now owns 508,501 shares of the company’s stock, valued at approximately $12,158,258.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO W Bryan Hill sold 50,089 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the completion of the transaction, the chief financial officer now directly owns 508,501 shares in the company, valued at approximately $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Bohanon sold 29,052 shares of Alkami Technology stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $23.02, for a total transaction of $668,777.04. Following the transaction, the insider now directly owns 434,823 shares in the company, valued at approximately $10,009,625.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,734 shares of company stock valued at $2,658,864. 38.00% of the stock is currently owned by insiders.

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.