The Manufacturers Life Insurance Company Acquires 303,995 Shares of Alkami Technology, Inc. $ALKT

The Manufacturers Life Insurance Company lifted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,198,269 shares of the company’s stock after buying an additional 303,995 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 2.05% of Alkami Technology worth $34,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi grew 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 acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after purchasing an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 5,884 shares during the last quarter. Millennium Management LLC lifted 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 purchasing an additional 274,439 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted 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 valued at $18,920,000 after purchasing an additional 71,949 shares during the period. 54.97% of the stock is owned by institutional investors.

Alkami Technology Trading Up 2.0%

ALKT opened at $18.17 on Friday. 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’s fifty day moving average is $16.94 and its two-hundred day moving average is $17.28. The company has a market capitalization of $1.94 billion, a P/E ratio of -43.26 and a beta of 0.57. Alkami Technology, Inc. has a 52 week low of $13.98 and a 52 week high of $26.89.

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 7.69% and a negative net margin of 9.21%.The firm had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. Alkami Technology’s quarterly revenue was up 28.9% compared to the same quarter last year. Analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, June 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Finally, Citizens Jmp lowered their price objective on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.20.

Insider Activity at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General acquired 844,772 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the completion of the acquisition, the director directly owned 17,445,994 shares of the company’s stock, valued at $290,126,880.22. The trade was a 5.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 4,041,543 shares of company stock worth $67,594,674 in the last 90 days. Company insiders own 17.10% 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.