Alkami Technology (NASDAQ:ALKT) Director Purchases $8,828,365.32 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General purchased 521,771 shares of the stock in a transaction dated Monday, May 4th. The stock was purchased at an average price of $16.92 per share, for a total transaction of $8,828,365.32. Following the completion of the acquisition, the director directly owned 15,901,222 shares in the company, valued at approximately $269,048,676.24. This represents a 3.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Wednesday, May 6th, Atlantic Genpar (Bermu General purchased 844,772 shares of Alkami Technology stock. The stock was purchased at an average price of $16.63 per share, for a total transaction of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General purchased 700,000 shares of Alkami Technology stock. The stock was purchased at an average price of $16.84 per share, for a total transaction of $11,788,000.00.
• On Thursday, March 12th, Atlantic Genpar (Bermu General purchased 500,000 shares of Alkami Technology stock. The stock was purchased at an average price of $18.33 per share, for a total transaction of $9,165,000.00.

Alkami Technology Stock Up 3.1%

NASDAQ:ALKT opened at $17.97 on Friday. Alkami Technology, Inc. has a fifty-two week low of $14.11 and a fifty-two week high of $31.66. The stock has a market capitalization of $1.92 billion, a P/E ratio of -38.23 and a beta of 0.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. The company’s 50-day simple moving average is $16.73 and its 200-day simple moving average is $19.36.

Alkami Technology (NASDAQ:ALKT) last released 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 firm had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 earnings per share. On average, equities analysts anticipate that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Trading of Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of the business. General Atlantic L.P. lifted its stake in Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after acquiring an additional 2,346,162 shares during the period. Vanguard Group Inc. lifted its stake in Alkami Technology by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after acquiring an additional 456,275 shares during the period. Westfield Capital Management Co. LP lifted its stake in Alkami Technology by 33.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after acquiring an additional 1,023,297 shares during the period. ArrowMark Colorado Holdings LLC lifted its stake in Alkami Technology by 56.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after acquiring an additional 1,394,617 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Alkami Technology by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock valued at $91,405,000 after acquiring an additional 430,632 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALKT. JPMorgan Chase & Co. lowered their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. 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. Needham & Company LLC lowered their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Citizens Jmp lowered their target price on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alkami Technology presently has a consensus rating of “Hold” and an average price target of $22.80.

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.