9,562 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Acquired by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the fourth quarter, HoldingsChannel.com reports. The firm bought 9,562 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC boosted its holdings 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 valued at $38,000 after purchasing an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Alkami Technology in the 3rd quarter valued at $39,000. Ensign Peak Advisors Inc boosted its holdings in shares of Alkami Technology by 84.1% in the 3rd quarter. Ensign Peak Advisors Inc now owns 2,890 shares of the company’s stock valued at $43,000 after purchasing an additional 1,320 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Alkami Technology in the 1st quarter valued at $45,000. Finally, Quarry LP acquired a new position in shares of Alkami Technology in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Stock Down 1.0 %

Alkami Technology stock traded down $0.23 during midday trading on Friday, hitting $23.81. 54,221 shares of the stock were exchanged, compared to its average volume of 310,139. Alkami Technology, Inc. has a 1 year low of $10.93 and a 1 year high of $26.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 3.77. The company has a 50 day moving average price of $24.40 and a two-hundred day moving average price of $22.85.

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

Insider Transactions at Alkami Technology

In other news, insider Stephen Bohanon sold 29,052 shares of the business’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 completion of the sale, the insider now owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Stephen Bohanon sold 29,052 shares of the business’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 completion of the sale, the insider now owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 33,593 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $23.59, for a total transaction of $792,458.87. Following the completion of the sale, the insider now directly owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,734 shares of company stock valued at $2,658,864. Insiders own 38.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. The Goldman Sachs Group lowered shares of Alkami Technology from a “buy” rating to a “neutral” rating and lifted their price target for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Alkami Technology in a report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Barclays lifted their target price on shares of Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average price target of $26.10.

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.