Corient Private Wealth LP Purchases Shares of 153,686 Alkami Technology, Inc. $ALKT

Corient Private Wealth LP bought a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 153,686 shares of the company’s stock, valued at approximately $2,785,000.

Other institutional investors have also added to or reduced their stakes in the company. Amundi increased its position in shares of Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after purchasing an additional 594 shares during the period. Legal & General Group Plc boosted its holdings in Alkami Technology by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock worth $2,113,000 after buying an additional 691 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares in the last quarter. Finally, Summit Securities Group LLC grew its holdings in Alkami Technology by 84.2% during the 1st 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. 54.97% of the stock is owned by institutional investors.

Alkami Technology Stock Performance

Alkami Technology stock opened at $19.44 on Wednesday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -46.28 and a beta of 0.61. The stock’s 50 day simple moving average is $18.66 and its two-hundred day simple moving average is $17.29. Alkami Technology, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $26.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). The firm had revenue of $129.84 million during the quarter, compared to the consensus estimate of $128.70 million. Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.Alkami Technology’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) EPS. As a group, analysts expect that Alkami Technology, Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ALKT shares. JPMorgan Chase & Co. increased their price objective on Alkami Technology from $19.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Finally, Needham & Company LLC boosted their price objective on Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Three equities 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.80.

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.