Scalar Gauge Management LLC Increases Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Scalar Gauge Management LLC raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,422 shares of the company’s stock after acquiring an additional 9,600 shares during the quarter. Alkami Technology makes up 1.2% of Scalar Gauge Management LLC’s portfolio, making the stock its 21st largest holding. Scalar Gauge Management LLC owned 0.07% of Alkami Technology worth $2,693,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Advisors Asset Management Inc. lifted its position in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Alkami Technology during the 3rd quarter valued at about $387,000. Charles Schwab Investment Management Inc. lifted its position in shares of Alkami Technology by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock valued at $16,854,000 after buying an additional 120,845 shares in the last quarter. FMR LLC grew its stake in shares of Alkami Technology by 10.2% during the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after acquiring an additional 141,319 shares during the period. Finally, Quantbot Technologies LP increased its holdings in Alkami Technology by 20.6% in the 3rd quarter. Quantbot Technologies LP now owns 8,915 shares of the company’s stock worth $281,000 after acquiring an additional 1,524 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Down 1.7 %

Shares of ALKT stock opened at $26.41 on Monday. The stock has a market cap of $2.70 billion, a P/E ratio of -56.19 and a beta of 0.49. The company’s fifty day simple moving average is $30.84 and its two-hundred day simple moving average is $34.33. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29.

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

Insider Activity

In related news, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction dated 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 directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,767 shares of company stock valued at $4,004,934 in the last ninety days. Insiders own 38.00% of the company’s stock.

Wall Street Analyst Weigh In

ALKT has been the topic of several analyst reports. The Goldman Sachs Group lowered their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research note on Thursday, March 13th. Barclays cut their price target on 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. raised their price target on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.