IVY Lane Capital Management LLC Purchases New Shares in Alkami Technology, Inc. $ALKT

IVY Lane Capital Management LLC acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the company’s stock, valued at approximately $784,000. Alkami Technology makes up approximately 1.2% of IVY Lane Capital Management LLC’s holdings, making the stock its 9th largest position.

A number of other large investors have also modified their holdings of ALKT. Roubaix Capital LLC acquired a new stake in shares of Alkami Technology during the 1st quarter valued at about $2,524,000. Bank of New York Mellon Corp raised its holdings in Alkami Technology by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 431,007 shares of the company’s stock worth $6,754,000 after purchasing an additional 10,296 shares during the period. Fifth Third Bancorp boosted its position in Alkami Technology by 456.7% during the first quarter. Fifth Third Bancorp now owns 6,190 shares of the company’s stock worth $97,000 after purchasing an additional 5,078 shares in the last quarter. Summit Securities Group LLC boosted its position in Alkami Technology by 84.2% during the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after purchasing an additional 842 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC grew its holdings in Alkami Technology by 26.3% in the first quarter. Taylor Frigon Capital Management LLC now owns 149,610 shares of the company’s stock valued at $2,344,000 after purchasing an additional 31,135 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ALKT shares. Citizens Jmp cut their price objective on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. decreased their target price on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.20.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $17.40 on Wednesday. The company’s 50-day moving average price is $16.82 and its 200-day moving average price is $17.55. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The company has a market cap of $1.86 billion, a P/E ratio of -37.02 and a beta of 0.57. Alkami Technology, Inc. has a twelve month low of $13.98 and a twelve month high of $28.53.

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

Insider Buying and Selling at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General purchased 844,772 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the completion of the transaction, the director directly owned 17,445,994 shares of the company’s stock, valued at approximately $290,126,880.22. This trade represents a 5.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders purchased 4,041,543 shares of company stock worth $67,594,674. Insiders own 17.10% of the company’s stock.

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.