Alkami Technology (NASDAQ:ALKT) Director Buys $11,788,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General bought 700,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average price of $16.84 per share, for a total transaction of $11,788,000.00. Following the completion of the acquisition, the director directly owned 16,601,222 shares in the company, valued at approximately $279,564,578.48. The trade was a 4.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, May 6th, Atlantic Genpar (Bermu General bought 844,772 shares of Alkami Technology stock. The stock was bought at an average price of $16.63 per share, for a total transaction of $14,048,558.36.
• On Monday, May 4th, Atlantic Genpar (Bermu General bought 521,771 shares of Alkami Technology stock. The stock was bought at an average price of $16.92 per share, for a total transaction of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General bought 500,000 shares of Alkami Technology stock. The stock was bought at an average price of $18.33 per share, for a total transaction of $9,165,000.00.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $17.97 on Friday. Alkami Technology, Inc. has a 52-week low of $14.11 and a 52-week high of $31.66. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -38.23 and a beta of 0.54. The stock’s fifty day simple moving average is $16.73 and its 200 day simple moving average is $19.36.

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). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The business had revenue of $126.14 million for the quarter, compared to analysts’ expectations of $125.22 million. During the same quarter in the prior year, the firm posted $0.08 EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALKT. JPMorgan Chase & Co. lowered their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Barclays lowered their price target on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Citizens Jmp lowered their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Finally, Needham & Company LLC lowered their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report 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 assigned a Sell rating to the stock. According to data from MarketBeat, Alkami Technology presently has a consensus rating of “Hold” and an average price target of $22.80.

Institutional Trading of Alkami Technology

A number of institutional investors have recently bought and sold shares of ALKT. General Atlantic L.P. boosted its position in Alkami Technology by 24.3% during the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after purchasing an additional 2,346,162 shares during the last quarter. Irenic Capital Management LP acquired a new stake in Alkami Technology during the fourth quarter valued at $48,596,000. North Reef Capital Management LP boosted its position in Alkami Technology by 1,545.7% during the fourth quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company’s stock valued at $48,447,000 after purchasing an additional 1,972,396 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Alkami Technology by 160.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after purchasing an additional 1,904,474 shares during the last quarter. Finally, JANA Partners Management LP acquired a new stake in Alkami Technology during the third quarter valued at $47,008,000. Institutional investors and hedge funds 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.