Alkami Technology (NASDAQ:ALKT) Director Atlantic L.P. General Purchases 1,103,749 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General bought 1,103,749 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $17.56 per share, with a total value of $19,381,832.44. Following the purchase, the director directly owned 13,979,451 shares in the company, valued at $245,479,159.56. The trade was a 8.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 9th, Atlantic L.P. General purchased 842,266 shares of Alkami Technology stock. The shares were purchased at an average cost of $17.35 per share, for a total transaction of $14,613,315.10.
• On Wednesday, March 11th, Atlantic L.P. General purchased 900,000 shares of Alkami Technology stock. The shares were purchased at an average price of $18.41 per share, with a total value of $16,569,000.00.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $18.57 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $1.97 billion, a PE ratio of -40.37 and a beta of 0.57. The firm has a 50 day simple moving average of $18.97 and a 200-day simple moving average of $21.60. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.66.

Wall Street Analyst Weigh In

ALKT has been the subject of several analyst reports. Citizens Jmp reduced their price target 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. Barclays lowered their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Needham & Company LLC decreased their price target 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, JPMorgan Chase & Co. dropped their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Five 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.57.

Hedge Funds Weigh In On Alkami Technology

A number of large investors have recently modified their holdings of ALKT. Amundi grew its holdings in shares of Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after purchasing an additional 548 shares during the period. Advisors Asset Management Inc. lifted its position in Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after buying an additional 594 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alkami Technology by 19.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock worth $947,000 after buying an additional 5,884 shares during the period. Millennium Management LLC increased its position in shares of Alkami Technology by 64.7% in the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock worth $18,340,000 after acquiring an additional 274,439 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Alkami Technology by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock valued at $18,920,000 after acquiring an additional 71,949 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.