Alkami Technology (NASDAQ:ALKT) Director Purchases $14,048,558.36 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General purchased 844,772 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the transaction, the director owned 17,445,994 shares of the company’s stock, valued at $290,126,880.22. This trade represents a 5.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, May 5th, Atlantic Genpar (Bermu General purchased 700,000 shares of Alkami Technology stock. The shares were purchased at an average cost of $16.84 per share, for a total transaction of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General purchased 521,771 shares of Alkami Technology stock. The shares were purchased at an average cost 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 cost of $18.33 per share, for a total transaction of $9,165,000.00.

Alkami Technology Trading Up 3.1%

ALKT opened at $17.97 on Friday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -38.23 and a beta of 0.54. Alkami Technology, Inc. has a 52 week low of $14.11 and a 52 week high of $31.66. The business’s 50 day moving average is $16.73 and its two-hundred day moving average is $19.36. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96.

Alkami Technology (NASDAQ:ALKT) last released 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 for the quarter, compared to analyst estimates of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. On average, research analysts predict that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ALKT shares. Barclays dropped their target price on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Needham & Company LLC dropped their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. dropped their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Finally, Citizens Jmp dropped their target price on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.80.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $1,831,000. JANA Partners Management LP purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $47,008,000. Chicago Capital LLC purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $33,665,000. Algebris UK Ltd. purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $12,728,000. Finally, Westfield Capital Management Co. LP boosted its position in Alkami Technology by 160.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock worth $76,881,000 after purchasing an additional 1,904,474 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.