Alkami Technology (NASDAQ:ALKT) Director Atlantic L.P. General Purchases 900,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General bought 900,000 shares of Alkami Technology stock in a transaction on Wednesday, March 11th. The shares were purchased at an average cost of $18.41 per share, with a total value of $16,569,000.00. Following the acquisition, the director directly owned 14,879,451 shares of the company’s stock, valued at approximately $273,930,692.91. The trade was a 6.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Atlantic L.P. General also recently made the following trade(s):

• On Monday, March 9th, Atlantic L.P. General purchased 842,266 shares of Alkami Technology stock. The stock was purchased at an average cost of $17.35 per share, for a total transaction of $14,613,315.10.
• On Tuesday, March 10th, Atlantic L.P. General purchased 1,103,749 shares of Alkami Technology stock. The shares were purchased at an average price of $17.56 per share, with a total value of $19,381,832.44.

Alkami Technology Price Performance

ALKT stock traded up $0.61 during midday trading on Wednesday, reaching $18.57. The stock had a trading volume of 3,595,295 shares, compared to its average volume of 2,604,573. Alkami Technology, Inc. has a 52-week low of $14.11 and a 52-week high of $31.66. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -40.37 and a beta of 0.57. The company’s fifty day simple moving average is $18.97 and its 200 day simple moving average is $21.60. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. General Atlantic L.P. lifted its position in Alkami Technology by 24.3% in the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after buying an additional 2,346,162 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Alkami Technology by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after acquiring an additional 456,275 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Alkami Technology by 33.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after acquiring an additional 1,023,297 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of Alkami Technology by 56.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after acquiring an additional 1,394,617 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Alkami Technology by 13.3% in the 3rd quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock worth $91,405,000 after acquiring an additional 430,632 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ALKT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. JPMorgan Chase & Co. decreased their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Needham & Company LLC dropped their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Citizens Jmp cut their price target on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a report on Thursday, February 26th. Finally, Barclays reduced their price objective on 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. Five 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.57.

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.