Algebris UK Ltd. Grows Stake in Alkami Technology, Inc. $ALKT

Algebris UK Ltd. grew its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 140.6% in the fourth quarter, Holdings Channel reports. The firm owned 1,233,546 shares of the company’s stock after purchasing an additional 720,769 shares during the period. Alkami Technology comprises approximately 1.4% of Algebris UK Ltd.’s holdings, making the stock its 19th biggest position. Algebris UK Ltd.’s holdings in Alkami Technology were worth $28,471,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. General Atlantic L.P. grew its position in shares of 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 purchasing an additional 2,346,162 shares in the last quarter. Vanguard Group Inc. grew its position in Alkami Technology by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock worth $194,121,000 after acquiring an additional 456,275 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in Alkami Technology by 56.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after acquiring an additional 1,394,617 shares in the last quarter. Alliancebernstein L.P. grew its position in Alkami Technology by 13.3% in the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock worth $91,405,000 after acquiring an additional 430,632 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Alkami Technology by 160.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock worth $76,881,000 after acquiring an additional 1,904,474 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ALKT shares. JPMorgan Chase & Co. cut 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 report on Wednesday, February 18th. Barclays cut 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 report on Thursday, February 26th. Citizens Jmp cut 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 report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Finally, Needham & Company LLC cut 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 report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.80.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $16.84 on Thursday. The company has a 50-day simple moving average of $16.78 and a two-hundred day simple moving average of $18.96. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.18. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -35.83 and a beta of 0.54.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.30). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The business had revenue of $126.14 million for the quarter, compared to analysts’ expectations of $125.22 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. The business’s quarterly revenue was up 28.9% on a year-over-year basis. On average, equities analysts forecast that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Joseph P. Payne purchased 5,500 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $18.23 per share, for a total transaction of $100,265.00. Following the completion of the transaction, the director directly owned 26,628 shares in the company, valued at approximately $485,428.44. This represents a 26.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Atlantic L.P. General purchased 900,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $18.41 per share, with a total value of $16,569,000.00. Following the completion of the transaction, the director owned 14,879,451 shares of the company’s stock, valued at approximately $273,930,692.91. This trade represents a 6.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 7,393,058 shares of company stock worth $127,424,086 and sold 13,739 shares worth $232,189. Company insiders own 17.10% of the company’s stock.

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.