Select Equity Group L.P. Trims Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Select Equity Group L.P. lessened its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,199 shares of the company’s stock after selling 6,645 shares during the period. Select Equity Group L.P. owned 0.06% of Alkami Technology worth $2,391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Essex Investment Management Co. LLC purchased a new position in shares of Alkami Technology during the fourth quarter valued at approximately $34,000. Quarry LP acquired a new position in Alkami Technology during the fourth quarter worth approximately $61,000. Blue Trust Inc. increased its position in Alkami Technology by 162.6% during the fourth quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock worth $117,000 after purchasing an additional 1,974 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Alkami Technology by 73.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company’s stock worth $148,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Alkami Technology during the fourth quarter worth approximately $203,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Lake Street Capital dropped their price target on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. Needham & Company LLC dropped their price target on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. 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 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 currently has an average rating of “Moderate Buy” and an average target price of $39.88.

Alkami Technology Price Performance

Alkami Technology stock opened at $30.89 on Friday. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29. The firm has a fifty day moving average of $26.33 and a 200-day moving average of $32.47. The firm has a market capitalization of $3.18 billion, a P/E ratio of -65.72 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 (NASDAQ:ALKT) last announced its 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 firm had revenue of $89.66 million during the quarter, compared to analysts’ expectations 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, analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Activity

In other news, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the transaction, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO W Bryan Hill sold 17,409 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the transaction, the chief financial officer now owns 450,620 shares of the company’s stock, valued at $13,703,354.20. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.10% 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.