Burkehill Global Management LP Purchases Shares of 350,000 Alkami Technology, Inc. (NASDAQ:ALKT)

Burkehill Global Management LP acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 350,000 shares of the company’s stock, valued at approximately $12,838,000. Alkami Technology makes up about 1.2% of Burkehill Global Management LP’s portfolio, making the stock its 25th biggest holding. Burkehill Global Management LP owned approximately 0.35% of Alkami Technology as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Essex Investment Management Co. LLC purchased a new stake in Alkami Technology during the fourth quarter worth approximately $34,000. Advisors Asset Management Inc. raised its holdings in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares in the last quarter. Covestor Ltd lifted its position in shares of Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after buying an additional 2,646 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Alkami Technology by 162.6% in the 4th quarter. Blue Trust Inc. now owns 3,188 shares of the company’s stock valued at $117,000 after buying an additional 1,974 shares in the last quarter. Finally, Icon Wealth Advisors LLC purchased a new position in shares of Alkami Technology in the 3rd quarter valued at $155,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the business’s 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 owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 4,358 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 value of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,767 shares of company stock valued at $7,981,934 over the last three months. 38.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced 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. lifted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Barclays decreased their target price on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.14.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $24.28 on Thursday. Alkami Technology, Inc. has a one year low of $22.65 and a one year high of $42.29. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -51.66 and a beta of 0.49. The company has a 50-day simple moving average of $33.02 and a 200-day simple moving average of $34.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. On average, analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

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.