Alkami Technology, Inc. $ALKT is Long Path Partners LP’s 2nd Largest Position

Long Path Partners LP increased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 138.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,568,823 shares of the company’s stock after purchasing an additional 1,490,357 shares during the quarter. Alkami Technology accounts for 23.1% of Long Path Partners LP’s holdings, making the stock its 2nd largest holding. Long Path Partners LP’s holdings in Alkami Technology were worth $63,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Amundi raised its position in Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after purchasing an additional 548 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Alkami Technology by 32.4% in the 1st 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 in the last quarter. Millennium Management LLC grew its position in shares of Alkami Technology by 64.7% during the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock worth $18,340,000 after buying an additional 274,439 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Alkami Technology by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock worth $18,920,000 after buying an additional 71,949 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insider Buying and Selling

In related news, Director Atlantic L.P. General acquired 1,103,749 shares of Alkami Technology stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $17.56 per share, for a total transaction of $19,381,832.44. Following the transaction, the director owned 13,979,451 shares of the company’s stock, valued at $245,479,159.56. This represents a 8.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 5,518 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total transaction of $93,254.20. Following the completion of the transaction, the insider owned 216,233 shares of the company’s stock, valued at approximately $3,654,337.70. The trade was a 2.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders bought 3,351,515 shares of company stock valued at $59,829,413 and sold 13,739 shares valued at $232,189. Company insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

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

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $17.61 on Tuesday. The stock’s 50-day simple moving average is $18.66 and its 200-day simple moving average is $21.42. The firm has a market capitalization of $1.87 billion, a PE ratio of -38.28 and a beta of 0.57. Alkami Technology, Inc. has a fifty-two week low of $14.11 and a fifty-two week high of $31.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.09.

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.