Alkami Technology, Inc. $ALKT Shares Acquired by North Reef Capital Management LP

North Reef Capital Management LP raised its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 264.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 7,650,000 shares of the company’s stock after purchasing an additional 5,550,000 shares during the quarter. Alkami Technology accounts for 4.1% of North Reef Capital Management LP’s investment portfolio, making the stock its 7th largest holding. North Reef Capital Management LP owned about 0.07% of Alkami Technology worth $119,876,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALKT. Amundi raised its stake in shares of Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. grew its position in Alkami Technology by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after acquiring an additional 594 shares during the last quarter. Legal & General Group Plc increased its holdings in Alkami Technology by 0.8% during the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock valued at $2,113,000 after purchasing an additional 691 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Alkami Technology by 91.7% in the 4th 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 during the last quarter. Finally, Summit Securities Group LLC boosted its stake in Alkami Technology by 84.2% in the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after purchasing an additional 842 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Insider Activity at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General purchased 675,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $16.49 per share, for a total transaction of $11,130,750.00. Following the transaction, the director directly owned 19,420,994 shares of the company’s stock, valued at approximately $320,252,191.06. The trade was a 3.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 4,041,543 shares of company stock valued at $67,594,674. Corporate insiders own 17.10% of the company’s stock.

Alkami Technology Stock Up 3.1%

Shares of Alkami Technology stock opened at $16.79 on Friday. The business has a fifty day simple moving average of $16.82 and a 200 day simple moving average of $17.45. The stock has a market cap of $1.80 billion, a PE ratio of -35.72 and a beta of 0.57. 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 12 month low of $13.98 and a 12 month high of $28.53.

Alkami Technology (NASDAQ:ALKT) last released 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 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 analyst estimates of $125.22 million. During the same period in the previous year, the company posted $0.08 EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Research analysts predict that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. JPMorgan Chase & Co. reduced their price target on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Finally, Citizens Jmp lowered their price objective on shares of 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. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Hold” and an average price target of $22.20.

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.