Alkami Technology (NASDAQ:ALKT) Director Purchases $9,146,500.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General bought 550,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $16.63 per share, for a total transaction 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 $311,745,880.22. This represents a 3.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 purchased at an average price of $16.49 per share, for a total transaction of $11,130,750.00.
• On Tuesday, May 12th, Atlantic Genpar (Bermu General acquired 750,000 shares of Alkami Technology stock. The stock was bought 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 stock was bought at an average price of $16.63 per share, for a total transaction 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 price of $16.84 per share, for a total transaction of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General acquired 521,771 shares of Alkami Technology stock. The stock was bought at an average price of $16.92 per share, for a total transaction of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General acquired 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 Down 0.1%

Shares of NASDAQ:ALKT opened at $16.61 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a 52-week low of $14.11 and a 52-week high of $31.18. The stock’s fifty day simple moving average is $16.79 and its 200-day simple moving average is $19.12. The company has a market capitalization of $1.78 billion, a P/E ratio of -35.34 and a beta of 0.54.

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

Hedge Funds Weigh In On Alkami Technology

Several large investors have recently added to or reduced their stakes in the business. General Atlantic L.P. lifted its position in Alkami Technology by 24.3% during the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after buying an additional 2,346,162 shares during the period. Vanguard Group Inc. lifted its position in Alkami Technology by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock worth $194,121,000 after buying an additional 456,275 shares during the period. North Reef Capital Management LP lifted its position in Alkami Technology by 264.3% during the first quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company’s stock worth $119,876,000 after buying an additional 5,550,000 shares during the period. Westfield Capital Management Co. LP lifted its position in Alkami Technology by 33.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock worth $95,010,000 after buying an additional 1,023,297 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its position in Alkami Technology by 56.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after buying an additional 1,394,617 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Citizens Jmp reduced their price objective on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. 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. Needham & Company LLC reduced their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alkami Technology presently has a consensus rating of “Hold” and an average 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.