Alkami Technology (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Purchases 675,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General acquired 675,000 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 19,420,994 shares of the company’s stock, valued at $320,252,191.06. This trade represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, May 13th, Atlantic Genpar (Bermu General acquired 550,000 shares of Alkami Technology stock. The stock was bought at an average price of $16.63 per share, with a total value of $9,146,500.00.
• On Tuesday, May 12th, Atlantic Genpar (Bermu General acquired 750,000 shares of Alkami Technology stock. The stock was bought at an average price of $16.87 per share, with a total value of $12,652,500.00.
• On Wednesday, May 6th, Atlantic Genpar (Bermu General purchased 844,772 shares of Alkami Technology stock. The shares were acquired at an average price of $16.63 per share, with a total value of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General purchased 700,000 shares of Alkami Technology stock. The shares were acquired at an average price of $16.84 per share, with a total value of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General purchased 521,771 shares of Alkami Technology stock. The shares were acquired at an average price of $16.92 per share, with a total value of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General purchased 500,000 shares of Alkami Technology stock. The shares were acquired at an average price of $18.33 per share, with a total value of $9,165,000.00.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $16.62 on Friday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $16.79 and a two-hundred day moving average price of $19.13. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.18. The company has a market cap of $1.78 billion, a P/E ratio of -35.36 and a beta of 0.54.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). The business 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 business’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share. As a group, analysts anticipate that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently modified their holdings of the company. General Atlantic L.P. lifted its position in shares of Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after buying an additional 2,346,162 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Alkami Technology by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock worth $194,121,000 after buying an additional 456,275 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Alkami Technology by 33.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock worth $95,010,000 after buying an additional 1,023,297 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Alkami Technology by 56.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after buying an additional 1,394,617 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Alkami Technology by 13.3% during the 3rd quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock worth $91,405,000 after buying an additional 430,632 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALKT. JPMorgan Chase & Co. dropped their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Barclays dropped their price target on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Citizens Jmp dropped their price target on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Three 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 an average target price of $22.80.

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.