Alkami Technology (NASDAQ:ALKT) Director Buys $11,788,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General purchased 700,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of $16.84 per share, with a total value of $11,788,000.00. Following the acquisition, the director directly owned 16,601,222 shares of the company’s stock, valued at $279,564,578.48. This trade represents a 4.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Wednesday, May 6th, Atlantic Genpar (Bermu General bought 844,772 shares of Alkami Technology stock. The shares were bought at an average price of $16.63 per share, with a total value of $14,048,558.36.
• On Monday, May 4th, Atlantic Genpar (Bermu General bought 521,771 shares of Alkami Technology stock. The shares were bought at an average price of $16.92 per share, with a total value of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General bought 500,000 shares of Alkami Technology stock. The shares were bought at an average price of $18.33 per share, with a total value of $9,165,000.00.

Alkami Technology Stock Down 0.6%

Alkami Technology stock traded down $0.10 during mid-day trading on Wednesday, reaching $16.75. 2,373,742 shares of the company were exchanged, compared to its average volume of 1,663,961. The business has a fifty day moving average of $16.70 and a 200 day moving average of $19.39. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. The firm has a market cap of $1.79 billion, a P/E ratio of -35.64 and a beta of 0.54. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.66.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). The company had revenue of $126.14 million for the quarter, compared to analysts’ expectations of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. Research analysts anticipate that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently made changes to their positions in the company. General Atlantic L.P. increased its position in shares of Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after acquiring an additional 2,346,162 shares during the period. Vanguard Group Inc. increased its position in shares of Alkami Technology by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after acquiring an additional 456,275 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Alkami Technology by 33.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after acquiring an additional 1,023,297 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of Alkami Technology by 56.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after acquiring an additional 1,394,617 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Alkami Technology by 13.3% in the 3rd quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock valued at $91,405,000 after acquiring an additional 430,632 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Needham & Company LLC lowered their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Barclays lowered their target price on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. JPMorgan Chase & Co. reduced their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Finally, Citizens Jmp reduced their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alkami Technology currently has an average rating of “Hold” and an average target price of $22.80.

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.