Alkami Technology (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Acquires 521,771 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General purchased 521,771 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average cost of $16.92 per share, for a total transaction of $8,828,365.32. Following the completion of the transaction, the director directly owned 15,901,222 shares of the company’s stock, valued at $269,048,676.24. This trade represents a 3.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, May 6th, Atlantic Genpar (Bermu General purchased 844,772 shares of Alkami Technology stock. The shares were acquired at an average cost of $16.63 per share, for a total transaction 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 cost of $16.84 per share, for a total transaction of $11,788,000.00.
• On Thursday, March 12th, Atlantic Genpar (Bermu General bought 500,000 shares of Alkami Technology stock. The stock was purchased at an average cost of $18.33 per share, for a total transaction of $9,165,000.00.

Alkami Technology Stock Down 0.6%

ALKT stock traded down $0.10 during mid-day trading on Wednesday, hitting $16.75. The stock had a trading volume of 2,373,742 shares, compared to its average volume of 1,663,961. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.66. The company has a fifty day moving average of $16.70 and a 200 day moving average of $19.39. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -35.64 and a beta of 0.54.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The firm had revenue of $126.14 million during the quarter, compared to analyst estimates of $125.22 million. During the same period in the previous year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, equities analysts expect that Alkami Technology, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Citizens Jmp decreased their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. decreased their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Needham & Company LLC decreased their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note 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 research note on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.80.

Institutional Trading of Alkami Technology

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in Alkami Technology by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 431,007 shares of the company’s stock valued at $6,754,000 after purchasing an additional 10,296 shares during the period. Fifth Third Bancorp raised its holdings in Alkami Technology by 456.7% in the 1st quarter. Fifth Third Bancorp now owns 6,190 shares of the company’s stock valued at $97,000 after acquiring an additional 5,078 shares in the last quarter. Summit Securities Group LLC raised its holdings in Alkami Technology by 84.2% in the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after acquiring an additional 842 shares in the last quarter. Taylor Frigon Capital Management LLC raised its holdings in Alkami Technology by 26.3% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 149,610 shares of the company’s stock valued at $2,344,000 after acquiring an additional 31,135 shares in the last quarter. Finally, West Tower Group LLC acquired a new position in Alkami Technology in the 1st quarter valued at approximately $188,000. Institutional investors own 54.97% of the company’s stock.

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.