Rice Hall James & Associates LLC Invests $1.01 Million in Alkami Technology, Inc. $ALKT

Rice Hall James & Associates LLC purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the first quarter, HoldingsChannel.com reports. The fund purchased 64,327 shares of the company’s stock, valued at approximately $1,008,000.

Several other institutional investors have also modified their holdings of the business. Summit Securities Group LLC lifted its stake in Alkami Technology by 84.2% in the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after buying an additional 842 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after acquiring an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after acquiring an additional 916 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Alkami Technology in the 4th quarter worth $37,000. Finally, CWM LLC increased its holdings in Alkami Technology by 97.6% during the 4th quarter. CWM LLC now owns 1,942 shares of the company’s stock worth $45,000 after purchasing an additional 959 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 675,000 shares of the stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $16.49 per share, for a total transaction of $11,130,750.00. Following the completion of the acquisition, the director owned 19,420,994 shares in the company, valued at $320,252,191.06. This trade represents a 3.60% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 4,041,543 shares of company stock worth $67,594,674 over the last quarter. Corporate insiders own 17.10% of the company’s stock.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $16.79 on Monday. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a 12-month low of $13.98 and a 12-month high of $28.53. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -35.72 and a beta of 0.57. The firm’s 50-day moving average price is $16.82 and its two-hundred day moving average price is $17.41.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly 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 during the quarter, compared to analyst estimates of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share. On average, analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

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.