Alkami Technology (NASDAQ:ALKT) Director Atlantic L.P. General Purchases 842,266 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General acquired 842,266 shares of Alkami Technology stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $17.35 per share, for a total transaction of $14,613,315.10. Following the completion of the transaction, the director directly owned 12,875,702 shares of the company’s stock, valued at approximately $223,393,429.70. This represents a 7.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, March 11th, Atlantic L.P. General acquired 900,000 shares of Alkami Technology stock. The shares were bought at an average cost of $18.41 per share, for a total transaction of $16,569,000.00.
• On Tuesday, March 10th, Atlantic L.P. General acquired 1,103,749 shares of Alkami Technology stock. The shares were bought at an average price of $17.56 per share, with a total value of $19,381,832.44.

Alkami Technology Trading Up 3.4%

Shares of ALKT stock opened at $18.57 on Thursday. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -40.37 and a beta of 0.57. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $18.97 and a 200 day moving average price of $21.60. Alkami Technology, Inc. has a twelve month low of $14.11 and a twelve month high of $31.66.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALKT. Barclays cut 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 research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. JPMorgan Chase & Co. cut their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Citizens Jmp reduced their price target on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Needham & Company LLC decreased their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.57.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALKT. Amundi boosted its position in shares of Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. increased its position in Alkami Technology by 32.4% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 raised its stake in 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 period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Alkami Technology by 11.1% in the 1st 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 last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.