Alkami Technology (NASDAQ:ALKT) Director Buys $11,130,750.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General bought 675,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the transaction, the director directly owned 19,420,994 shares of the company’s stock, valued at $320,252,191.06. This represents a 3.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, May 13th, Atlantic Genpar (Bermu General bought 550,000 shares of Alkami Technology stock. The stock was bought at an average price of $16.63 per share, with a total value of $9,146,500.00.
• On Tuesday, May 12th, Atlantic Genpar (Bermu General bought 750,000 shares of Alkami Technology stock. The stock was bought at an average price of $16.87 per share, with a total value of $12,652,500.00.
• 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, with a total value of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General acquired 700,000 shares of Alkami Technology stock. The stock was acquired at an average price of $16.84 per share, with a total value of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General acquired 521,771 shares of Alkami Technology stock. The stock was acquired at an average price of $16.92 per share, with a total value of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General acquired 500,000 shares of Alkami Technology stock. The stock was acquired at an average price of $18.33 per share, with a total value of $9,165,000.00.

Alkami Technology Trading Down 0.1%

Shares of ALKT opened at $16.61 on Friday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -35.34 and a beta of 0.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. Alkami Technology, Inc. has a fifty-two week low of $14.11 and a fifty-two week high of $31.18. The firm has a 50 day moving average price of $16.79 and a 200-day moving average price of $19.12.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data 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). The business had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, equities research analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ALKT. Summit Securities Group LLC increased its stake in shares of Alkami Technology by 84.2% in the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after buying an additional 842 shares during the period. First Horizon Corp purchased a new position in shares of Alkami Technology in the third quarter worth $30,000. Smartleaf Asset Management LLC increased its stake in shares of Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after buying an additional 692 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Alkami Technology by 398.3% in the second 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. Finally, Global Retirement Partners LLC purchased a new position in shares of Alkami Technology in the fourth quarter worth $37,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Needham & Company LLC lowered their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 26th. 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 report on Thursday, April 30th. Barclays lowered their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Three 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.80.

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.