Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Purchases $14,613,315.10 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General acquired 842,266 shares of Alkami Technology stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $17.35 per share, with a total value of $14,613,315.10. Following the purchase, the director directly owned 12,875,702 shares of the company’s stock, valued at approximately $223,393,429.70. This trade represents a 7.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, March 11th, Atlantic L.P. General bought 900,000 shares of Alkami Technology stock. The stock was purchased at an average price of $18.41 per share, for a total transaction of $16,569,000.00.
• On Tuesday, March 10th, Atlantic L.P. General purchased 1,103,749 shares of Alkami Technology stock. The stock was acquired at an average cost of $17.56 per share, with a total value of $19,381,832.44.

Alkami Technology Stock Performance

ALKT opened at $18.00 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01. The company’s fifty day moving average price is $18.78 and its two-hundred day moving average price is $21.53. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.66. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -39.13 and a beta of 0.57.

Analyst Upgrades and Downgrades

ALKT has been the topic of several recent research reports. Needham & Company LLC dropped their price target on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. decreased their price objective on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Citizens Jmp cut their target price on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Barclays decreased their price target on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alkami Technology currently has a consensus rating of “Hold” and a consensus price target of $26.67.

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Corp bought a new position in shares of Alkami Technology during the 3rd quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its holdings in shares of Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after acquiring an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after acquiring an additional 916 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Alkami Technology during the fourth quarter valued at approximately $37,000. Finally, AlphaQuest LLC increased its position in shares of Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after acquiring an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.