Bullseye Asset Management LLC Grows Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Bullseye Asset Management LLC boosted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 89,842 shares of the company’s stock after acquiring an additional 4,016 shares during the period. Alkami Technology accounts for about 1.5% of Bullseye Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Bullseye Asset Management LLC owned about 0.09% of Alkami Technology worth $3,295,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp acquired a new stake in shares of Alkami Technology in the third quarter valued at approximately $223,000. Barclays PLC increased its position in Alkami Technology by 108.2% during the third quarter. Barclays PLC now owns 95,391 shares of the company’s stock worth $3,009,000 after buying an additional 49,580 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Alkami Technology by 4.4% in the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock worth $61,364,000 after acquiring an additional 75,469 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Alkami Technology in the third quarter valued at $875,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Alkami Technology by 474.5% during the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after acquiring an additional 313,478 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Stock Up 1.2 %

Shares of NASDAQ ALKT opened at $26.53 on Friday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.73 billion, a PE ratio of -56.45 and a beta of 0.56. The firm has a fifty day moving average of $26.59 and a 200-day moving average of $33.33. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 11.31% and a negative net margin of 14.55%. On average, analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALKT. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a report on Thursday, March 13th. The Goldman Sachs Group reduced their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Barclays decreased their target price on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.38.

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.