Cornerstone Investment Partners LLC Purchases New Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Cornerstone Investment Partners LLC purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 9,562 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALKT. Vanguard Group Inc. lifted its stake in Alkami Technology by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock worth $78,252,000 after purchasing an additional 31,069 shares in the last quarter. BlackRock Inc. lifted its stake in Alkami Technology by 14.1% in the 2nd quarter. BlackRock Inc. now owns 2,683,362 shares of the company’s stock worth $43,980,000 after purchasing an additional 331,166 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Alkami Technology by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock worth $40,900,000 after purchasing an additional 217,123 shares in the last quarter. Long Path Partners Fund LP purchased a new position in Alkami Technology in the 1st quarter worth approximately $25,297,000. Finally, ArrowMark Colorado Holdings LLC lifted its stake in Alkami Technology by 34.2% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 1,329,738 shares of the company’s stock worth $16,834,000 after purchasing an additional 338,968 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Trading Down 1.0 %

Shares of Alkami Technology stock traded down $0.23 during trading hours on Friday, reaching $23.81. 54,221 shares of the company were exchanged, compared to its average volume of 310,139. Alkami Technology, Inc. has a 1 year low of $10.93 and a 1 year high of $26.75. The stock’s fifty day moving average is $24.40 and its 200 day moving average is $22.85. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Alkami Technology had a negative return on equity of 17.00% and a negative net margin of 23.76%. The business had revenue of $71.37 million for the quarter, compared to analyst estimates of $71.12 million. As a group, equities research analysts forecast that Alkami Technology, Inc. will post -0.41 EPS for the current year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 50,089 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the sale, the chief financial officer now owns 508,501 shares of the company’s stock, valued at $12,158,258.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alkami Technology news, CFO W Bryan Hill sold 50,089 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.91, for a total value of $1,197,627.99. Following the completion of the transaction, the chief financial officer now owns 508,501 shares in the company, valued at $12,158,258.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 33,593 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,734 shares of company stock valued at $2,658,864. 38.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ALKT has been the topic of a number of research reports. TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. KeyCorp lifted their price target on shares of Alkami Technology from $21.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research report on Monday. Finally, Barclays lifted their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.10.

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.