Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Purchases 675,000 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General bought 675,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the purchase, the director owned 19,420,994 shares of the company’s stock, valued at $320,252,191.06. This represents a 3.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, May 13th, Atlantic Genpar (Bermu General purchased 550,000 shares of Alkami Technology stock. The shares were bought at an average price of $16.63 per share, for a total transaction of $9,146,500.00.
• On Tuesday, May 12th, Atlantic Genpar (Bermu General purchased 750,000 shares of Alkami Technology stock. The shares were purchased at an average cost of $16.87 per share, with a total value of $12,652,500.00.
• On Wednesday, May 6th, Atlantic Genpar (Bermu General purchased 844,772 shares of Alkami Technology stock. The stock was bought at an average price of $16.63 per share, for a total transaction of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General acquired 700,000 shares of Alkami Technology stock. The stock was purchased at an average price of $16.84 per share, with a total value of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General acquired 521,771 shares of Alkami Technology stock. The shares were acquired at an average cost of $16.92 per share, for a total transaction of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General acquired 500,000 shares of Alkami Technology stock. The shares were bought at an average cost of $18.33 per share, with a total value of $9,165,000.00.

Alkami Technology Stock Up 0.3%

Shares of NASDAQ ALKT traded up $0.05 during trading on Thursday, reaching $16.62. The company had a trading volume of 2,815,506 shares, compared to its average volume of 1,873,479. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.18. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average is $16.79 and its 200 day moving average is $19.13. The stock has a market cap of $1.78 billion, a PE ratio of -35.36 and a beta of 0.54.

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

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently modified their holdings of ALKT. EverSource Wealth Advisors LLC raised its holdings in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after purchasing an additional 916 shares during the period. First Horizon Corp bought a new stake in Alkami Technology during the third quarter valued at about $30,000. Smartleaf Asset Management LLC increased its position in Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after buying an additional 692 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Alkami Technology by 54.5% in the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after buying an additional 544 shares during the period. Finally, Global Retirement Partners LLC bought a new position in shares of Alkami Technology in the fourth quarter worth about $37,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Alkami Technology Company 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.