Arlington Capital Management Inc. Purchases Shares of 52,835 Alkami Technology, Inc. (NASDAQ:ALKT)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Beaird Harris Wealth Management LLC increased its stake in Alkami Technology by 31.7% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Alkami Technology during the third quarter worth approximately $39,000. SG Americas Securities LLC purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Alkami Technology by 26.4% during the 3rd 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 period. Finally, Quadrature Capital Ltd bought a new stake in Alkami Technology during the 3rd quarter valued at $214,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ALKT shares. JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. Barclays raised their price objective on Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Needham & Company LLC boosted their price objective on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus price target of $26.90.

Alkami Technology Trading Down 0.4 %

ALKT stock traded down $0.10 during trading on Thursday, reaching $26.47. 84,347 shares of the stock were exchanged, compared to its average volume of 331,536. The business has a 50 day moving average price of $24.23 and a 200-day moving average price of $23.63. Alkami Technology, Inc. has a 1 year low of $12.53 and a 1 year high of $27.94. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -44.28 and a beta of 0.40.

Alkami Technology (NASDAQ:ALKT) last issued 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. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The company had revenue of $76.10 million during the quarter, compared to analyst estimates of $75.57 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, research analysts predict that Alkami Technology, Inc. will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other Alkami Technology news, insider Stephen Bohanon sold 29,052 shares of the company’s stock in a transaction on Monday, March 18th. The stock was 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 in the company, valued at $10,009,625.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO W Bryan Hill sold 50,089 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 508,501 shares in the company, valued at approximately $12,158,258.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Bohanon sold 29,052 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $23.02, for a total value of $668,777.04. Following the completion of the sale, the insider now directly owns 434,823 shares of the company’s stock, valued at $10,009,625.46. The disclosure for this sale can be found here. Insiders sold a total of 183,764 shares of company stock valued at $4,564,599 over the last 90 days. 25.90% of the stock is owned by company insiders.

Alkami Technology Company 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.