Arlington Capital Management Inc. Makes New Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Arlington Capital Management Inc. purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,835 shares of the company’s stock, valued at approximately $1,281,000. Alkami Technology makes up 1.2% of Arlington Capital Management Inc.’s holdings, making the stock its 24th largest holding. Arlington Capital Management Inc. owned 0.06% of Alkami Technology at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Alkami Technology during the third quarter worth $110,000. Bank of New York Mellon Corp boosted its holdings in shares of Alkami Technology by 12.8% during the third quarter. Bank of New York Mellon Corp now owns 125,923 shares of the company’s stock worth $2,294,000 after purchasing an additional 14,245 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Alkami Technology by 26.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company’s stock worth $167,000 after purchasing an additional 1,915 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alkami Technology by 9.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock worth $322,000 after purchasing an additional 1,494 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new stake in shares of Alkami Technology during the third quarter worth $2,670,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALKT. TheStreet raised Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group cut Alkami Technology from a “buy” rating to a “neutral” rating and upped their price target for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. Craig Hallum upped their price target on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Needham & Company LLC boosted their target price on shares of Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.90.

Alkami Technology Trading Down 0.4 %

Shares of ALKT stock traded down $0.10 on Thursday, hitting $26.47. The stock had a trading volume of 84,347 shares, compared to its average volume of 331,536. The company has a fifty day moving average price of $24.23 and a two-hundred day moving average price of $23.63. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology, Inc. has a twelve month low of $12.53 and a twelve month high of $27.94. The firm has a market cap of $2.58 billion, a P/E ratio of -44.28 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. Alkami Technology’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) EPS. As a group, analysts forecast that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 33,593 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the transaction, the insider now directly owns 262,749 shares in the company, valued at approximately $6,198,248.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alkami Technology news, insider Douglas A. Linebarger sold 33,593 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the transaction, the insider now owns 262,749 shares in the company, valued at approximately $6,198,248.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Bohanon sold 29,052 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $23.02, for a total transaction of $668,777.04. Following the transaction, the insider now directly owns 434,823 shares of the company’s stock, valued at approximately $10,009,625.46. The disclosure for this sale can be found here. Insiders have sold 183,764 shares of company stock worth $4,564,599 in the last ninety days. Insiders own 25.90% 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.