Penbrook Management LLC Sells 3,200 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Penbrook Management LLC reduced its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 5.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,750 shares of the company’s stock after selling 3,200 shares during the period. Alkami Technology comprises 0.9% of Penbrook Management LLC’s investment portfolio, making the stock its 22nd biggest position. Penbrook Management LLC owned approximately 0.06% of Alkami Technology worth $1,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ALKT. NBC Securities Inc. purchased a new position in shares of Alkami Technology in the fourth quarter worth about $43,000. Beaird Harris Wealth Management LLC raised its holdings in Alkami Technology by 31.7% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after acquiring an additional 500 shares during the period. Quest Partners LLC purchased a new position in shares of Alkami Technology in the fourth quarter valued at $113,000. Harvest Fund Management Co. Ltd grew its holdings in Alkami Technology by 253.0% during 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 in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in Alkami Technology during the 4th quarter worth approximately $232,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the sale, the insider now owns 262,749 shares in the company, valued at approximately $7,049,555.67. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the sale, the insider now owns 262,749 shares of the company’s stock, valued at $7,049,555.67. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the transaction, the chief financial officer now owns 505,877 shares in the company, valued at approximately $14,569,257.60. The disclosure for this sale can be found here. Insiders sold a total of 1,848,472 shares of company stock worth $49,241,550 over the last three months. Corporate insiders own 25.90% of the company’s stock.

Alkami Technology Trading Up 4.3 %

NASDAQ ALKT traded up $1.24 during trading on Tuesday, reaching $30.30. 922,855 shares of the company’s stock traded hands, compared to its average volume of 397,337. The company’s 50 day simple moving average is $26.55 and its two-hundred day simple moving average is $25.13. Alkami Technology, Inc. has a 12-month low of $14.93 and a 12-month high of $30.48. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping 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 business had revenue of $76.10 million during the quarter, compared to the consensus estimate of $75.57 million. During the same period in the previous year, the company posted ($0.16) earnings per share. The firm’s revenue was up 26.8% on a year-over-year basis. Research analysts anticipate that Alkami Technology, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ALKT. Craig Hallum lifted their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective on shares of Alkami Technology in a research report on Tuesday, June 25th. Finally, JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

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.