Alkami Technology (NASDAQ:ALKT) Director Acquires $19,381,832.44 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General purchased 1,103,749 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was bought at an average price of $17.56 per share, with a total value of $19,381,832.44. Following the completion of the purchase, the director owned 13,979,451 shares of the company’s stock, valued at approximately $245,479,159.56. This represents a 8.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Atlantic L.P. General also recently made the following trade(s):

• On Monday, March 9th, Atlantic L.P. General acquired 842,266 shares of Alkami Technology stock. The shares were bought at an average price of $17.35 per share, for a total transaction of $14,613,315.10.
• On Wednesday, March 11th, Atlantic L.P. General bought 900,000 shares of Alkami Technology stock. The stock was purchased at an average cost of $18.41 per share, with a total value of $16,569,000.00.

Alkami Technology Stock Performance

NASDAQ ALKT traded up $0.61 on Wednesday, hitting $18.57. 3,595,295 shares of the stock were exchanged, compared to its average volume of 2,604,573. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. The business’s fifty day moving average is $18.97 and its 200 day moving average is $21.60. Alkami Technology, Inc. has a 52 week low of $14.11 and a 52 week high of $31.66. The company has a market capitalization of $1.97 billion, a PE ratio of -40.37 and a beta of 0.57.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently modified their holdings of ALKT. General Atlantic L.P. increased its stake in Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after purchasing an additional 2,346,162 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Alkami Technology by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after buying an additional 456,275 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Alkami Technology by 33.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after buying an additional 1,023,297 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Alkami Technology by 56.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after acquiring an additional 1,394,617 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Alkami Technology by 13.3% during the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock worth $91,405,000 after acquiring an additional 430,632 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALKT. Needham & Company LLC cut their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Citizens Jmp dropped their price objective on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 26th. Barclays cut their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Five investment 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’s stock. According to data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Hold” and an average target price of $28.57.

About Alkami Technology

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.