Alkami Technology (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Buys 700,000 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General purchased 700,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were purchased at an average price of $16.84 per share, for a total transaction of $11,788,000.00. Following the completion of the purchase, the director directly owned 16,601,222 shares of the company’s stock, valued at approximately $279,564,578.48. This trade represents a 4.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Wednesday, May 6th, Atlantic Genpar (Bermu General purchased 844,772 shares of Alkami Technology stock. The shares were purchased at an average price of $16.63 per share, for a total transaction of $14,048,558.36.
• On Monday, May 4th, Atlantic Genpar (Bermu General purchased 521,771 shares of Alkami Technology stock. The shares were purchased at an average price of $16.92 per share, for a total transaction of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General purchased 500,000 shares of Alkami Technology stock. The shares were purchased at an average price of $18.33 per share, for a total transaction of $9,165,000.00.

Alkami Technology Trading Down 0.6%

Shares of ALKT opened at $16.75 on Thursday. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.66. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -35.64 and a beta of 0.54. The stock’s 50-day moving average price is $16.70 and its 200 day moving average price is $19.39.

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). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The firm had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company’s revenue was up 28.9% on a year-over-year basis. As a group, research analysts predict that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALKT. Citizens Jmp lowered their price objective 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. Barclays lowered their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. JPMorgan Chase & Co. lowered their price objective on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Needham & Company LLC lowered their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.80.

Institutional Investors Weigh In On Alkami Technology

A number of large investors have recently bought and sold shares of ALKT. Summit Securities Group LLC grew its position in Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after acquiring an additional 842 shares during the last quarter. First Horizon Corp bought a new stake in Alkami Technology during the 3rd quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its position in Alkami Technology by 91.7% during the 4th 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 last quarter. EverSource Wealth Advisors LLC grew its position in Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after acquiring an additional 916 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in Alkami Technology during the 4th quarter worth approximately $37,000. 54.97% of the stock is currently owned by institutional investors.

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.