The Manufacturers Life Insurance Company Acquires 303,995 Shares of Alkami Technology, Inc. $ALKT

The Manufacturers Life Insurance Company boosted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,198,269 shares of the company’s stock after buying an additional 303,995 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Alkami Technology were worth $34,447,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Summit Securities Group LLC boosted its position in Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after acquiring an additional 842 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of 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 acquiring an additional 692 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after acquiring an additional 916 shares during the period. Global Retirement Partners LLC bought a new position in shares of Alkami Technology in the 4th quarter worth $37,000. Finally, CWM LLC raised its position in shares of Alkami Technology by 97.6% in the 4th quarter. CWM LLC now owns 1,942 shares of the company’s stock worth $45,000 after acquiring an additional 959 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the transaction, the director directly owned 19,420,994 shares of the company’s stock, valued at $320,252,191.06. This trade represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders acquired 4,041,543 shares of company stock worth $67,594,674. Corporate insiders own 17.10% of the company’s stock.

Analyst Ratings Changes

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

Alkami Technology Price Performance

Shares of ALKT opened at $18.17 on Friday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -43.26 and a beta of 0.57. Alkami Technology, Inc. has a twelve month low of $13.98 and a twelve month high of $26.89. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $16.94 and a two-hundred day moving average of $17.28.

Alkami Technology (NASDAQ:ALKT) last released its quarterly 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 firm had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. Alkami Technology had a negative return on equity of 7.69% and a negative net margin of 9.21%.Alkami Technology’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, analysts predict that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

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.