Long Path Partners LP Acquires 1,490,357 Shares of Alkami Technology, Inc. $ALKT

Long Path Partners LP increased its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 138.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,568,823 shares of the company’s stock after acquiring an additional 1,490,357 shares during the period. Alkami Technology makes up about 23.1% of Long Path Partners LP’s holdings, making the stock its 2nd largest holding. Long Path Partners LP owned approximately 2.45% of Alkami Technology worth $63,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. General Atlantic L.P. lifted its stake in shares of Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after purchasing an additional 2,346,162 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Alkami Technology by 56.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after purchasing an additional 1,394,617 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Alkami Technology by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock worth $91,405,000 after purchasing an additional 430,632 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Alkami Technology by 160.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after buying an additional 1,904,474 shares during the period. Finally, Champlain Investment Partners LLC lifted its position in Alkami Technology by 18.6% in the second quarter. Champlain Investment Partners LLC now owns 3,064,695 shares of the company’s stock valued at $92,370,000 after buying an additional 481,642 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Cassandra Hudson sold 6,869 shares of Alkami Technology stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total value of $116,086.10. Following the completion of the transaction, the chief financial officer owned 286,757 shares in the company, valued at approximately $4,846,193.30. The trade was a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General bought 500,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $18.33 per share, for a total transaction of $9,165,000.00. Following the completion of the purchase, the director owned 15,379,451 shares in the company, valued at $281,905,336.83. This trade represents a 3.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 3,351,515 shares of company stock valued at $59,829,413 and have sold 13,739 shares valued at $232,189. 18.10% of the stock is owned by company insiders.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $17.61 on Tuesday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -38.28 and a beta of 0.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. The business has a 50-day moving average of $18.66 and a 200 day moving average of $21.42. Alkami Technology, Inc. has a 12 month low of $14.11 and a 12 month high of $31.66.

Analyst Ratings Changes

Several brokerages have weighed in on ALKT. Barclays lowered their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Citizens Jmp reduced their price target on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Needham & Company LLC dropped their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Four equities research 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. According to MarketBeat.com, Alkami Technology has an average rating of “Hold” and a consensus target price of $26.67.

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.