IVY Lane Capital Management LLC Takes Position in Alkami Technology, Inc. $ALKT

IVY Lane Capital Management LLC acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $784,000. Alkami Technology accounts for about 1.2% of IVY Lane Capital Management LLC’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Alkami Technology by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock worth $194,121,000 after purchasing an additional 456,275 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Alkami Technology by 33.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after buying an additional 1,023,297 shares during the period. Alliancebernstein L.P. grew its stake in shares of Alkami Technology by 13.3% in the 3rd quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock valued at $91,405,000 after buying an additional 430,632 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Alkami Technology by 40.3% during the 4th quarter. Janus Henderson Group PLC now owns 3,208,436 shares of the company’s stock worth $74,019,000 after buying an additional 921,055 shares during the last quarter. Finally, Bamco Inc. NY raised its position in shares of Alkami Technology by 24.6% during the 4th quarter. Bamco Inc. NY now owns 2,983,065 shares of the company’s stock valued at $68,819,000 after buying an additional 588,033 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 675,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the transaction, the director directly owned 19,420,994 shares of the company’s stock, valued at approximately $320,252,191.06. This represents a 3.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have purchased 4,041,543 shares of company stock worth $67,594,674. 17.10% of the stock is owned by corporate insiders.

Alkami Technology Stock Down 3.3%

Shares of NASDAQ:ALKT opened at $17.40 on Wednesday. The firm has a market capitalization of $1.86 billion, a PE ratio of -37.02 and a beta of 0.57. Alkami Technology, Inc. has a 1 year low of $13.98 and a 1 year high of $28.53. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.30 and a quick ratio of 2.30. The firm’s 50-day moving average is $16.82 and its two-hundred day moving average is $17.55.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.30). The business had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 EPS. Analysts predict that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, June 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Finally, Citizens Jmp decreased their price target 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. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.20.

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.