Atlantic L.P. General Purchases 842,266 Shares of Alkami Technology (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General purchased 842,266 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were purchased at an average price of $17.35 per share, for a total transaction of $14,613,315.10. Following the acquisition, the director directly owned 12,875,702 shares of the company’s stock, valued at $223,393,429.70. This trade represents a 7.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Atlantic L.P. General also recently made the following trade(s):

• On Wednesday, March 11th, Atlantic L.P. General acquired 900,000 shares of Alkami Technology stock. The stock was purchased at an average cost of $18.41 per share, with a total value of $16,569,000.00.
• On Tuesday, March 10th, Atlantic L.P. General bought 1,103,749 shares of Alkami Technology stock. The stock was acquired at an average price of $17.56 per share, with a total value of $19,381,832.44.

Alkami Technology Stock Up 3.4%

Shares of Alkami Technology stock traded up $0.61 during midday trading on Wednesday, hitting $18.57. The company’s stock had a trading volume of 3,595,295 shares, compared to its average volume of 2,604,573. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.66. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $1.97 billion, a P/E ratio of -40.37 and a beta of 0.57. The stock has a 50-day simple moving average of $18.97 and a 200-day simple moving average of $21.60.

Institutional Trading of Alkami Technology

Several large investors have recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its position in shares of Alkami Technology by 54.5% during the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after purchasing an additional 544 shares during the last quarter. Amundi lifted its holdings in shares of Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after buying an additional 548 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after acquiring an additional 594 shares during the period. Legal & General Group Plc grew its stake in shares of Alkami Technology by 0.8% in the third quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock worth $2,113,000 after acquiring an additional 691 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Alkami Technology by 91.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after acquiring an additional 692 shares during the period. 54.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ALKT. Citizens Jmp lowered their target price on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 26th. Needham & Company LLC decreased 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. JPMorgan Chase & Co. lowered their price objective 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Finally, Barclays lowered 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 report on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alkami Technology has a consensus rating of “Hold” and an average price target of $28.57.

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.