Riverbridge Partners LLC Purchases 151,895 Shares of Alkami Technology, Inc. $ALKT

Riverbridge Partners LLC raised its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,250,685 shares of the company’s stock after acquiring an additional 151,895 shares during the period. Riverbridge Partners LLC owned approximately 2.16% of Alkami Technology worth $55,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Praesidium Investment Management Company LLC acquired a new stake in shares of Alkami Technology in the 1st quarter worth $40,223,000. Westfield Capital Management Co. LP purchased a new stake in shares of Alkami Technology during the second quarter worth about $35,884,000. Champlain Investment Partners LLC boosted its stake in Alkami Technology by 64.0% in the 1st quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company’s stock worth $67,805,000 after purchasing an additional 1,008,025 shares in the last quarter. Ameriprise Financial Inc. grew its position in Alkami Technology by 61.6% during the 1st quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company’s stock worth $51,242,000 after purchasing an additional 743,884 shares during the last quarter. Finally, Bamco Inc. NY grew its position in Alkami Technology by 80.6% during the 2nd quarter. Bamco Inc. NY now owns 1,330,484 shares of the company’s stock worth $40,101,000 after purchasing an additional 593,659 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Needham & Company LLC decreased their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a report on Friday, October 31st. JPMorgan Chase & Co. reduced their target price on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Barclays dropped their price target on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, October 31st. Citizens Jmp decreased their target price on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating for the company in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Alkami Technology Stock Up 1.2%

Alkami Technology stock opened at $22.71 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.17 and a quick ratio of 2.17. The stock has a market capitalization of $2.38 billion, a PE ratio of -52.81 and a beta of 0.54. The business has a 50 day simple moving average of $21.59 and a 200-day simple moving average of $24.54. Alkami Technology, Inc. has a 12 month low of $18.71 and a 12 month high of $40.39.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.29). The company had revenue of $112.95 million during the quarter, compared to analyst estimates of $113.48 million. Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%. Alkami Technology’s revenue was up 31.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. On average, analysts anticipate that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 8,179 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total value of $166,360.86. Following the transaction, the insider owned 221,751 shares in the company, valued at $4,510,415.34. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 18.10% of the stock is owned by insiders.

Alkami Technology Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.