Scalar Gauge Management LLC Acquires 9,600 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Scalar Gauge Management LLC raised its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 15.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 73,422 shares of the company’s stock after buying an additional 9,600 shares during the quarter. Alkami Technology accounts for 1.2% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 21st biggest holding. Scalar Gauge Management LLC’s holdings in Alkami Technology were worth $2,693,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALKT. Harbor Capital Advisors Inc. raised its stake in shares of Alkami Technology by 10.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after acquiring an additional 615 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Alkami Technology by 117.9% in 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 during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology during the 4th quarter valued at $34,000. Quantbot Technologies LP boosted its position in shares of 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 purchasing an additional 1,524 shares in the last quarter. Finally, PDT Partners LLC boosted its position in shares of Alkami Technology by 4.5% in the 3rd quarter. PDT Partners LLC now owns 45,042 shares of the company’s stock worth $1,421,000 after purchasing an additional 1,947 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $26.41 on Monday. The company has a 50 day simple moving average of $30.84 and a two-hundred day simple moving average of $34.33. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -56.19 and a beta of 0.49. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29.

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

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the company’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 value of $529,407.69. Following the sale, the chief financial officer now owns 450,620 shares in the company, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the firm’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 $132,526.78. Following the sale, the insider now directly owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,767 shares of company stock valued at $4,004,934 over the last ninety days. Company insiders own 38.00% of the company’s stock.

Analyst Ratings Changes

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