Westfield Capital Management Co. LP Boosts Stock Holdings in Alkami Technology, Inc. $ALKT

Westfield Capital Management Co. LP increased its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 160.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,095,058 shares of the company’s stock after acquiring an additional 1,904,474 shares during the period. Westfield Capital Management Co. LP’s holdings in Alkami Technology were worth $76,881,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC increased its holdings in shares of Alkami Technology by 54.5% in the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after purchasing an additional 544 shares in the last quarter. Amundi increased its holdings in Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after buying an additional 548 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after buying an additional 594 shares in the last quarter. CWM LLC raised its position in Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after buying an additional 601 shares during the last quarter. Finally, Trust Point Inc. lifted its stake in Alkami Technology by 8.6% during the 3rd quarter. Trust Point Inc. now owns 9,064 shares of the company’s stock valued at $225,000 after acquiring an additional 717 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Zacks Research lowered shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. cut their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Citizens Jmp reissued a “market outperform” rating and set a $40.00 price target on shares of Alkami Technology in a report on Thursday, January 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Finally, Barclays reduced their price objective on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. Five investment 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. Based on data from MarketBeat.com, Alkami Technology currently has an average rating of “Hold” and a consensus price target of $30.86.

Alkami Technology Stock Up 4.9%

Shares of ALKT stock opened at $16.37 on Thursday. The company’s fifty day simple moving average is $20.17 and its two-hundred day simple moving average is $22.00. Alkami Technology, Inc. has a 52 week low of $15.09 and a 52 week high of $31.66. The stock has a market cap of $1.72 billion, a P/E ratio of -38.07 and a beta of 0.53. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, February 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.26). The firm had revenue of $120.79 million during the quarter, compared to the consensus estimate of $120.14 million. Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The company’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. Analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, insider Douglas A. Linebarger sold 8,179 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider directly owned 221,751 shares of the company’s stock, valued at $4,510,415.34. This represents a 3.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.10% of the stock is owned by company insiders.

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.