Westfield Capital Management Co. LP Purchases 1,904,474 Shares of Alkami Technology, Inc. $ALKT

Westfield Capital Management Co. LP lifted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 160.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,095,058 shares of the company’s stock after purchasing an additional 1,904,474 shares during the period. Westfield Capital Management Co. LP owned 2.95% of Alkami Technology worth $76,881,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Amundi lifted its holdings in Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after buying an additional 548 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after buying an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alkami Technology by 19.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock valued at $947,000 after acquiring an additional 5,884 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Alkami Technology by 64.7% during the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock valued at $18,340,000 after acquiring an additional 274,439 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Alkami Technology by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock worth $18,920,000 after acquiring an additional 71,949 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $16.37 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17. The company has a 50 day simple moving average of $20.17 and a two-hundred day simple moving average of $22.00. Alkami Technology, Inc. has a fifty-two week low of $15.09 and a fifty-two week high of $31.66. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -38.07 and a beta of 0.53.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.26). Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The company had revenue of $120.79 million during the quarter, compared to analysts’ expectations of $120.14 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The business’s quarterly revenue was up 34.7% on a year-over-year basis. Analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALKT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Citizens Jmp reaffirmed a “market outperform” rating and set a $40.00 target price on shares of Alkami Technology in a research note on Thursday, January 29th. The Goldman Sachs Group reduced their price target on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Finally, Zacks Research cut Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alkami Technology has an average rating of “Hold” and a consensus price target of $30.86.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 8,179 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $166,360.86. Following the completion of the transaction, the insider directly owned 221,751 shares in the company, valued at $4,510,415.34. This trade represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.10% of the stock is owned by insiders.

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.