Praesidium Investment Management Company LLC Has $52.76 Million Position in Alkami Technology, Inc. $ALKT

Praesidium Investment Management Company LLC lifted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 13.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,287,096 shares of the company’s stock after acquiring an additional 269,524 shares during the period. Alkami Technology accounts for 9.8% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 4th biggest holding. Praesidium Investment Management Company LLC’s holdings in Alkami Technology were worth $52,763,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ALKT. General Atlantic L.P. grew its position in shares of Alkami Technology by 24.3% during the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after acquiring an additional 2,346,162 shares during the last quarter. North Reef Capital Management LP lifted its holdings in Alkami Technology by 1,545.7% in the 4th quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company’s stock valued at $48,447,000 after acquiring an additional 1,972,396 shares during the last quarter. Westfield Capital Management Co. LP lifted 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 acquiring an additional 1,904,474 shares during the last quarter. JANA Partners Management LP acquired a new stake in Alkami Technology in the 3rd quarter valued at about $47,008,000. Finally, Long Path Partners LP lifted its holdings in Alkami Technology by 138.2% in the 3rd quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock valued at $63,810,000 after acquiring an additional 1,490,357 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General acquired 844,772 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $16.63 per share, with a total value of $14,048,558.36. Following the completion of the acquisition, the director owned 17,445,994 shares in the company, valued at $290,126,880.22. The trade was a 5.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired 4,041,543 shares of company stock worth $67,594,674 over the last three months. 17.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALKT. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Citizens Jmp cut their price target on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Needham & Company LLC cut their price target 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, Barclays cut their price target on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alkami Technology has an average rating of “Hold” and an average target price of $22.80.

Alkami Technology Trading Up 1.9%

NASDAQ:ALKT opened at $15.19 on Friday. Alkami Technology, Inc. has a 52 week low of $14.11 and a 52 week high of $31.08. 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 stock’s 50 day moving average price is $16.68 and its 200 day moving average price is $18.54. The company has a market capitalization of $1.63 billion, a P/E ratio of -32.32 and a beta of 0.58.

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