The Manufacturers Life Insurance Company Makes New $46.93 Million Investment in Alkami Technology, Inc. $ALKT

The Manufacturers Life Insurance Company acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,589,800 shares of the company’s stock, valued at approximately $46,927,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Securities Group LLC lifted its position in shares of Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after purchasing an additional 842 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in 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 buying an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after buying an additional 916 shares during the last quarter. Optiver Holding B.V. acquired a new stake in Alkami Technology in the first quarter valued at $36,000. Finally, Essential Partners LLC raised its stake in Alkami Technology by 7,090.9% in the first quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock valued at $37,000 after buying an additional 2,340 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALKT shares. Citizens Jmp lowered 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. raised their target price on Alkami Technology from $19.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday. Needham & Company LLC raised their target price on Alkami Technology from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Weiss Ratings restated 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 given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.80.

Alkami Technology Trading Up 1.1%

NASDAQ ALKT opened at $20.35 on Thursday. The stock has a market capitalization of $2.18 billion, a P/E ratio of -48.45 and a beta of 0.58. Alkami Technology, Inc. has a 52-week low of $13.98 and a 52-week high of $26.89. The firm has a 50-day moving average price of $18.23 and a 200 day moving average price of $17.21. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.98.

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