Captrust Financial Advisors Purchases 66,170 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Captrust Financial Advisors lifted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 232.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,652 shares of the company’s stock after buying an additional 66,170 shares during the period. Captrust Financial Advisors owned about 0.09% of Alkami Technology worth $3,472,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALKT. Vanguard Group Inc. boosted its position in Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock worth $273,187,000 after acquiring an additional 843,129 shares during the last quarter. Alliancebernstein L.P. grew its position in Alkami Technology by 5,747.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after purchasing an additional 2,661,027 shares in the last quarter. Franklin Resources Inc. increased its stake in Alkami Technology by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company’s stock valued at $66,457,000 after buying an additional 6,970 shares during the last quarter. Wasatch Advisors LP lifted its position in Alkami Technology by 16.6% during the 4th quarter. Wasatch Advisors LP now owns 1,586,789 shares of the company’s stock worth $58,203,000 after buying an additional 225,992 shares in the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in shares of Alkami Technology during the 4th quarter worth about $57,772,000. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Price Performance

Alkami Technology stock opened at $29.41 on Friday. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -62.57 and a beta of 0.56. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The stock’s 50 day moving average is $25.89 and its 200-day moving average is $32.74.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. Equities research analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

ALKT has been the subject of several recent research reports. Lake Street Capital reduced their price target on 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 target price for the company in a research note 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 on the stock in a research report on Thursday, May 1st. JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.88.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of Alkami Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the transaction, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at $13,703,354.20. The trade was a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction 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 sale, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This trade represents a 1.75 % 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.

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.