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

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

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. grew its stake in shares of Alkami Technology by 10.5% during the 4th quarter. Sei Investments Co. now owns 284,286 shares of the company’s stock valued at $10,428,000 after purchasing an additional 26,987 shares during the period. Quantbot Technologies LP grew its position in Alkami Technology by 410.6% during the fourth quarter. Quantbot Technologies LP now owns 45,517 shares of the company’s stock valued at $1,670,000 after buying an additional 36,602 shares during the period. Summit Global Investments purchased a new stake in Alkami Technology during the fourth quarter valued at approximately $641,000. Intech Investment Management LLC raised 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 worth $1,018,000 after acquiring an additional 15,497 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Alkami Technology by 36.9% during the 4th quarter. Royce & Associates LP now owns 215,010 shares of the company’s stock worth $7,887,000 after acquiring an additional 57,908 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $26.55 on Friday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $31.60 and its two-hundred day moving average is $34.39. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29. The company has a market capitalization of $2.71 billion, a PE ratio of -56.49 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results 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 return on equity of 11.31% and a negative net margin of 14.55%. The company had revenue of $89.66 million during the quarter, compared to analysts’ expectations of $89.63 million. As a group, analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALKT shares. Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. The Goldman Sachs Group reduced their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Barclays dropped their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 17,409 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the sale, 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 can be accessed through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the transaction, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,767 shares of company stock valued at $4,004,934. 38.00% of the stock is currently owned by company insiders.

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.