Taylor Frigon Capital Management LLC Increases Stock Holdings in Alkami Technology, Inc. $ALKT

Taylor Frigon Capital Management LLC increased its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 26.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 149,610 shares of the company’s stock after acquiring an additional 31,135 shares during the quarter. Alkami Technology makes up about 1.3% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Taylor Frigon Capital Management LLC’s holdings in Alkami Technology were worth $2,344,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ALKT. Smartleaf Asset Management LLC lifted its holdings in Alkami Technology by 91.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after purchasing an additional 916 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Alkami Technology during the fourth quarter worth about $37,000. CWM LLC raised its position in shares of Alkami Technology by 97.6% during the 4th quarter. CWM LLC now owns 1,942 shares of the company’s stock worth $45,000 after purchasing an additional 959 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Alkami Technology during the 4th quarter worth about $48,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Citizens Jmp decreased their target price 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. Finally, JPMorgan Chase & Co. dropped their price target on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, June 22nd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Alkami Technology has an average rating of “Hold” and an average target price of $22.20.

Alkami Technology Stock Down 4.4%

ALKT stock opened at $17.69 on Thursday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -37.64 and a beta of 0.57. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a 12 month low of $13.98 and a 12 month high of $30.88. The firm has a 50-day moving average of $16.67 and a two-hundred day moving average of $17.89.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share 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 for the quarter, compared to analyst estimates of $125.22 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General purchased 675,000 shares of Alkami Technology stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $16.49 per share, for a total transaction of $11,130,750.00. Following the acquisition, the director directly owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. The trade was a 3.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders acquired 4,041,543 shares of company stock valued at $67,594,674. 17.10% of the stock is owned by company insiders.

Alkami Technology 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.