Hillsdale Investment Management Inc. Raises Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Hillsdale Investment Management Inc. grew its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 46,158.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,020 shares of the company’s stock after acquiring an additional 110,780 shares during the quarter. Hillsdale Investment Management Inc. owned 0.11% of Alkami Technology worth $4,072,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALKT. Sei Investments Co. lifted its stake in shares of Alkami Technology by 10.5% in the 4th quarter. Sei Investments Co. now owns 284,286 shares of the company’s stock valued at $10,428,000 after acquiring an additional 26,987 shares during the last quarter. Quantbot Technologies LP grew its position in Alkami Technology by 410.6% during the 4th quarter. Quantbot Technologies LP now owns 45,517 shares of the company’s stock worth $1,670,000 after acquiring an additional 36,602 shares during the last quarter. Summit Global Investments purchased a new position in Alkami Technology in the 4th quarter worth approximately $641,000. Intech Investment Management LLC lifted its position in Alkami Technology by 126.3% in the fourth quarter. Intech Investment Management LLC now owns 27,766 shares of the company’s stock valued at $1,018,000 after purchasing an additional 15,497 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Alkami Technology by 36.9% during the fourth quarter. Royce & Associates LP now owns 215,010 shares of the company’s stock valued at $7,887,000 after purchasing an additional 57,908 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 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 value of $132,526.78. Following the sale, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,767 shares of company stock worth $4,004,934 in the last three months. 38.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on ALKT. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. upped their price objective 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 cut their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Alkami Technology Stock Performance

Alkami Technology stock opened at $26.55 on Friday. Alkami Technology, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The stock’s 50 day simple moving average is $31.60 and its two-hundred day simple moving average is $34.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -56.49 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results 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 net margin of 14.55% and a negative return on equity of 11.31%. As a group, analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

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.