Lisanti Capital Growth LLC Takes $3.32 Million Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Lisanti Capital Growth LLC bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 134,955 shares of the company’s stock, valued at approximately $3,316,000. Lisanti Capital Growth LLC owned 0.14% of Alkami Technology as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. purchased a new position in shares of Alkami Technology during the fourth quarter valued at $43,000. Quest Partners LLC purchased a new position in Alkami Technology during the fourth quarter valued at approximately $113,000. Harvest Fund Management Co. Ltd increased its stake in Alkami Technology by 253.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock valued at $182,000 after buying an additional 5,445 shares during the period. Cornerstone Investment Partners LLC purchased a new stake in Alkami Technology in the 4th quarter worth approximately $232,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Alkami Technology during the 1st quarter valued at $248,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Trading Up 1.2 %

ALKT traded up $0.36 during midday trading on Friday, reaching $30.75. The company’s stock had a trading volume of 477,044 shares, compared to its average volume of 534,979. Alkami Technology, Inc. has a twelve month low of $14.93 and a twelve month high of $31.31. The company has a fifty day simple moving average of $27.53 and a 200 day simple moving average of $25.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm had revenue of $76.10 million during the quarter, compared to the consensus estimate of $75.57 million. During the same period in the prior year, the firm earned ($0.16) EPS. The business’s revenue was up 26.8% on a year-over-year basis. As a group, analysts expect that Alkami Technology, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $25.72, for a total value of $2,572,000.00. Following the completion of the transaction, the chief financial officer now owns 489,340 shares in the company, valued at approximately $12,585,824.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the sale, the director now owns 17,186,985 shares of the company’s stock, valued at approximately $455,970,712.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $25.72, for a total transaction of $2,572,000.00. Following the transaction, the chief financial officer now directly owns 489,340 shares of the company’s stock, valued at $12,585,824.80. The disclosure for this sale can be found here. Insiders sold a total of 1,848,472 shares of company stock valued at $49,241,550 over the last ninety days. 38.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ALKT. Craig Hallum upped their target price on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Alkami Technology in a research report on Tuesday, June 25th. JMP Securities restated a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a report on Monday, April 15th. Finally, Barclays increased their target price on shares of Alkami Technology from $28.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

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.