Alkami Technology (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Purchases 550,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General acquired 550,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $16.63 per share, for a total transaction of $9,146,500.00. Following the completion of the acquisition, the director owned 18,745,994 shares in the company, valued at approximately $311,745,880.22. This represents a 3.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, May 14th, Atlantic Genpar (Bermu General acquired 675,000 shares of Alkami Technology stock. The stock was purchased 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 acquired 750,000 shares of Alkami Technology stock. The stock was purchased at an average cost 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 purchased at an average cost 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 purchased 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 acquired 521,771 shares of Alkami Technology stock. The stock was purchased at an average cost of $16.92 per share, for a total transaction of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General bought 500,000 shares of Alkami Technology stock. The shares were bought at an average cost of $18.33 per share, for a total transaction of $9,165,000.00.

Alkami Technology Stock Performance

ALKT opened at $16.62 on Friday. The firm has a market cap of $1.78 billion, a P/E ratio of -35.36 and a beta of 0.54. Alkami Technology, Inc. has a 52-week low of $14.11 and a 52-week high of $31.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. The business’s fifty day moving average is $16.79 and its 200-day moving average is $19.13.

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). The company had revenue of $126.14 million for the quarter, compared to analyst estimates of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. Sell-side analysts expect that Alkami Technology, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citizens Jmp dropped their price objective on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. JPMorgan Chase & Co. decreased their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Needham & Company LLC decreased their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Barclays decreased their target price on 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, Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. General Atlantic L.P. lifted its holdings 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 acquiring an additional 2,346,162 shares during the period. Vanguard Group Inc. increased its position in Alkami Technology by 5.7% in 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 last quarter. Westfield Capital Management Co. LP increased its position in Alkami Technology by 33.1% in 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 last quarter. ArrowMark Colorado Holdings LLC increased its position in Alkami Technology by 56.3% in 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 last quarter. Finally, Alliancebernstein L.P. increased its position in Alkami Technology by 13.3% in the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock worth $91,405,000 after buying an additional 430,632 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

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.