Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 74.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 95,249 shares of the company’s stock after acquiring an additional 40,755 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alkami Technology were worth $3,494,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALKT. Essex Investment Management Co. LLC bought a new position in Alkami Technology in the fourth quarter worth approximately $34,000. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Alkami Technology by 162.6% during the 4th 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. Icon Wealth Advisors LLC bought a new stake in Alkami Technology during the third quarter valued at about $155,000. Finally, GSA Capital Partners LLP purchased a new position in Alkami Technology in the third quarter valued at about $203,000. 54.97% of the stock is currently owned by institutional investors.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were 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. The trade was a 1.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 17,409 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $13,703,354.20. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,767 shares of company stock valued at $4,004,934. 38.00% of the stock is owned by insiders.

Alkami Technology Trading Up 1.8 %

Shares of NASDAQ:ALKT opened at $25.71 on Tuesday. The business has a 50-day moving average price of $32.34 and a 200-day moving average price of $34.59. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -54.70 and a beta of 0.49. Alkami Technology, Inc. has a 52-week low of $22.65 and a 52-week high of $42.29. 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 posted its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) 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 analyst estimates of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Equities analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Analyst Ratings Changes

ALKT has been the subject of several analyst reports. The Goldman Sachs Group decreased 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. JPMorgan Chase & Co. raised their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Barclays reduced their price target on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.