Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Purchases 229,391 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General acquired 229,391 shares of the stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $22.44 per share, with a total value of $5,147,534.04. Following the purchase, the director directly owned 12,033,436 shares in the company, valued at $270,030,303.84. This represents a 1.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, August 12th, Atlantic Genpar (Bermu General acquired 516,771 shares of Alkami Technology stock. The stock was bought at an average price of $21.46 per share, with a total value of $11,089,905.66.
• On Monday, August 11th, Atlantic Genpar (Bermu General acquired 650,000 shares of Alkami Technology stock. The stock was bought at an average price of $20.70 per share, with a total value of $13,455,000.00.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $22.59 on Thursday. The company’s 50-day moving average is $27.33 and its 200 day moving average is $28.20. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. The company has a market capitalization of $2.35 billion, a P/E ratio of -59.45 and a beta of 0.57. Alkami Technology, Inc. has a fifty-two week low of $19.94 and a fifty-two week high of $42.29.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its holdings in Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after buying an additional 601 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after buying an additional 916 shares during the period. Perkins Coie Trust Co increased its position in shares of Alkami Technology by 62.5% during the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the period. Versant Capital Management Inc bought a new position in shares of Alkami Technology in the first quarter valued at approximately $36,000. Finally, Assetmark Inc. purchased a new stake in Alkami Technology in the 2nd quarter worth approximately $44,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Needham & Company LLC decreased their price target on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. began coverage on shares of Alkami Technology in a research note on Wednesday, June 18th. They set an “overweight” rating and a $40.00 price target for the company. Finally, Lake Street Capital reduced their target price on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average price target of $39.25.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.