Praesidium Investment Management Company LLC Buys 269,524 Shares of Alkami Technology, Inc. $ALKT

Praesidium Investment Management Company LLC increased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,287,096 shares of the company’s stock after acquiring an additional 269,524 shares during the quarter. Alkami Technology comprises approximately 9.8% of Praesidium Investment Management Company LLC’s portfolio, making the stock its 4th largest holding. Praesidium Investment Management Company LLC owned about 2.18% of Alkami Technology worth $52,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALKT. General Atlantic L.P. raised its stake in Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after acquiring an additional 2,346,162 shares in the last quarter. North Reef Capital Management LP raised its stake in Alkami Technology by 1,545.7% during the 4th quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company’s stock worth $48,447,000 after acquiring an additional 1,972,396 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Alkami Technology by 160.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock worth $76,881,000 after acquiring an additional 1,904,474 shares in the last quarter. JANA Partners Management LP acquired a new stake in Alkami Technology during the 3rd quarter worth $47,008,000. Finally, Long Path Partners LP boosted its stake in Alkami Technology by 138.2% during the 3rd quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock worth $63,810,000 after purchasing an additional 1,490,357 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALKT shares. Citizens Jmp decreased their price target on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. JPMorgan Chase & Co. decreased 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 note on Wednesday, February 18th. Barclays decreased their price target on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Finally, Needham & Company LLC decreased their price target 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. Three equities research 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, the stock has a consensus rating of “Hold” and a consensus target price of $22.80.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $15.19 on Friday. The company has a market capitalization of $1.63 billion, a P/E ratio of -32.32 and a beta of 0.58. Alkami Technology, Inc. has a twelve month low of $14.11 and a twelve month high of $31.08. 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 firm has a 50-day moving average price of $16.68 and a two-hundred day moving average price of $18.54.

Alkami Technology (NASDAQ:ALKT) last released its earnings results 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 return on equity of 8.91% and a negative net margin of 10.55%.The company had revenue of $126.14 million during the quarter, compared to analyst estimates of $125.22 million. During the same period in the prior year, the business posted $0.08 earnings per share. Alkami Technology’s revenue was up 28.9% on a year-over-year basis. As a group, research analysts expect that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General bought 844,772 shares of Alkami Technology stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average cost of $16.63 per share, with a total value of $14,048,558.36. Following the completion of the transaction, the director owned 17,445,994 shares in the company, valued at approximately $290,126,880.22. This trade represents a 5.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 4,041,543 shares of company stock worth $67,594,674 over the last 90 days. Insiders own 17.10% of the company’s stock.

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.