Crescent Grove Advisors LLC Makes New Investment in Alkami Technology, Inc. $ALKT

Crescent Grove Advisors LLC bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,000 shares of the company’s stock, valued at approximately $1,154,000.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after buying an additional 916 shares during the period. Global Retirement Partners LLC purchased a new position in Alkami Technology during the fourth quarter worth about $37,000. AlphaQuest LLC boosted its stake in Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after buying an additional 544 shares during the period. CWM LLC boosted its stake in Alkami Technology by 97.6% during the fourth quarter. CWM LLC now owns 1,942 shares of the company’s stock worth $45,000 after buying an additional 959 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after buying an additional 594 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citizens Jmp reduced their price target on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Barclays reduced their price target on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. reduced their price target 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. Finally, Needham & Company LLC reduced their price target on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Three investment 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.80.

Insider Activity at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General bought 675,000 shares of Alkami Technology stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the acquisition, the director directly owned 19,420,994 shares in the company, valued at $320,252,191.06. The trade was a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Atlantic L.P. General bought 900,000 shares of Alkami Technology stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average cost of $18.41 per share, for a total transaction of $16,569,000.00. Following the acquisition, the director owned 14,879,451 shares of the company’s stock, valued at $273,930,692.91. This represents a 6.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 7,393,058 shares of company stock valued at $127,424,086 over the last 90 days. 17.10% of the stock is owned by corporate insiders.

Alkami Technology Stock Down 6.6%

Shares of ALKT opened at $16.62 on Thursday. The stock has a market capitalization of $1.78 billion, a PE ratio of -35.37 and a beta of 0.58. Alkami Technology, Inc. has a 1 year low of $14.11 and a 1 year high of $31.18. 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 $16.72 and its 200-day simple moving average is $18.78.

Alkami Technology (NASDAQ:ALKT) last issued 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). The business had revenue of $126.14 million for the quarter, compared to analyst estimates of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

About Alkami Technology

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.