Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Acquires 550,000 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General acquired 550,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $16.63 per share, with a total value of $9,146,500.00. Following the completion of the transaction, the director owned 18,745,994 shares of the company’s stock, valued at approximately $311,745,880.22. The trade was a 3.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, May 14th, Atlantic Genpar (Bermu General bought 675,000 shares of Alkami Technology stock. The shares were acquired at an average cost of $16.49 per share, for a total transaction of $11,130,750.00.
• On Tuesday, May 12th, Atlantic Genpar (Bermu General purchased 750,000 shares of Alkami Technology stock. The stock was acquired at an average price of $16.87 per share, for a total transaction of $12,652,500.00.
• On Wednesday, May 6th, Atlantic Genpar (Bermu General acquired 844,772 shares of Alkami Technology stock. The shares were bought at an average cost 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 bought at an average cost of $16.84 per share, for a total transaction of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General bought 521,771 shares of Alkami Technology stock. The shares were bought at an average cost of $16.92 per share, with a total value of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General purchased 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

ALKT stock traded up $0.05 during mid-day trading on Thursday, hitting $16.62. 2,815,506 shares of the company were exchanged, compared to its average volume of 1,873,479. The business has a 50 day simple moving average of $16.79 and a 200-day simple moving average of $19.13. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $1.78 billion, a PE ratio of -35.36 and a beta of 0.54. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.18.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.30). The firm had revenue of $126.14 million during the quarter, compared to analyst estimates of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. Alkami Technology’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. On average, equities analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Amundi grew its stake in Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after buying an additional 548 shares in 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 valued at $64,000 after acquiring an additional 594 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alkami Technology by 19.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock valued at $947,000 after acquiring an additional 5,884 shares during the last quarter. Millennium Management LLC raised its position in Alkami Technology by 64.7% during the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock valued at $18,340,000 after purchasing an additional 274,439 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Alkami Technology by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock worth $18,920,000 after purchasing an additional 71,949 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

ALKT has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Needham & Company LLC dropped their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Citizens Jmp lowered their target price on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Three equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.