96,600 Shares in Alkami Technology, Inc. $ALKT Purchased by Galaxy Digital Capital Management GP LLC

Galaxy Digital Capital Management GP LLC purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 96,600 shares of the company’s stock, valued at approximately $1,750,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC boosted its position in shares of Alkami Technology by 84.2% during the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after buying an additional 842 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Alkami Technology by 91.7% during 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 raised its holdings in shares of Alkami Technology by 398.3% in 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. Optiver Holding B.V. purchased a new stake in shares of Alkami Technology in the first quarter worth approximately $36,000. Finally, Essential Partners LLC lifted its stake in shares of Alkami Technology by 7,090.9% during the 1st quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock worth $37,000 after acquiring an additional 2,340 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Performance

Alkami Technology stock opened at $20.13 on Wednesday. The company has a 50 day moving average price of $18.12 and a 200-day moving average price of $17.18. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13. Alkami Technology, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $26.89. The company has a market capitalization of $2.15 billion, a PE ratio of -47.93 and a beta of 0.58.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALKT. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Citizens Jmp reduced their target price on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted 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. Finally, Needham & Company LLC boosted their target price on shares of Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.80.

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.