Hillsdale Investment Management Inc. Increases Investment in Alkami Technology, Inc.

Hillsdale Investment Management Inc. significantly increased its shares in Alkami Technology, Inc. (NASDAQ:ALKT) by an astounding 46,158.3% during the fourth quarter, as indicated by its recent Form 13F filing with the SEC. Following this acquisition, Hillsdale now holds 111,020 shares of the company's stock, having purchased an additional 110,780 shares during this quarter. This investment makes up 0.11% of Alkami Technology, valued at approximately $4,072,000 at the end of the last quarter.

Investment Activity by Other Hedge Funds

Several other hedge funds have also adjusted their holdings in Alkami Technology. Sei Investments Co. raised its investment by 10.5% in the fourth quarter, now owning 284,286 shares valued at $10,428,000 after acquiring an extra 26,987 shares. Quantbot Technologies LP reported a dramatic increase in its position, raising its stake by 410.6% during the same period, currently holding 45,517 shares worth $1,670,000 after a purchase of 36,602 extra shares. Summit Global Investments entered a new investment in Alkami Technology in the fourth quarter for about $641,000. Additionally, Intech Investment Management LLC raised its stake by 126.3%, now holding 27,766 shares valued at $1,018,000 after buying another 15,497 shares. Royce & Associates LP also boosted its holdings by 36.9%, acquiring an additional 57,908 shares for a total of 215,010 shares worth $7,887,000. Status reports indicate that institutional investors currently own 54.97% of the stock.

Recent Insider Transactions

In related news concerning Alkami Technology, insider Douglas A. Linebarger sold 4,358 shares on March 3rd, at an average price of $30.41, amounting to $132,526.78. Following this transaction, Linebarger retains 244,404 shares valued at about $7,432,325.64, marking a 1.75% reduction in ownership. This transaction was reported in a legal filing to the SEC. In another noteworthy transaction, CFO W Bryan Hill sold 100,000 shares on January 13th, 2023, for a total of $3,343,000 at an average price of $33.43. Post-sale, Hill holds 353,841 shares valued at roughly $11,828,904.63, reflecting a 22.03% decrease in ownership. Over the last three months, insiders have sold a total of 121,767 shares worth $4,004,934, with corporate insiders owning 38.00% of Alkami Technology stock.

Analyst Ratings Changes

Recently, several research firms have provided updates regarding Alkami Technology shares. Stephens upgraded its rating from "equal weight" to "overweight," setting a price target of $40.00. JPMorgan Chase & Co. increased its price target from $42.00 to $45.00, maintaining an "overweight" rating. Conversely, Barclays lowered its target from $41.00 to $35.00, with an "equal weight" rating following suit. The Goldman Sachs Group also adjusted its price target down from $39.00 to $32.00, establishing a "neutral" rating. Among analysts, two have given a hold rating, while six have issued buy ratings. Data from MarketBeat shows that Alkami Technology currently holds a consensus rating of "Moderate Buy" with an average price target of $41.00.

Alkami Technology Stock Overview

As of Friday, Alkami Technology stock opened at $26.55. The company has reached a fifty-two week low of $22.65 and a high of $42.29. The stock's 50-day simple moving average stands at $31.60, while the 200-day average is $34.39. Alkami has a debt-to-equity ratio of 0.05, along with a quick ratio and current ratio of 3.52. The market capitalization of the company is approximately $2.71 billion, with a price-to-earnings ratio of -56.49 and a beta of 0.49.

Alkami Technology reported its quarterly earnings on February 27th, revealing an earnings per share (EPS) of ($0.05), which fell short of the consensus estimate of $0.08 by $0.13. The company recorded revenue of $89.66 million, aligning closely with the consensus estimate of $89.63 million. Alkami Technology is currently operating at a negative net margin of 14.55% and a negative return on equity of 11.31%. Analysts anticipate that Alkami Technology will report -0.34 EPS for the ongoing fiscal year.

About Alkami Technology

Alkami Technology, Inc. offers cloud-based digital banking solutions within the United States. Its proprietary Alkami Platform assists financial institutions in onboarding and engaging new customers, enhancing revenue, and improving operational efficiency through a multi-tenant, cloud-based architecture.

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