Alkami Technology, Inc. $ALKT is JANA Partners Management LP’s 7th Largest Position

JANA Partners Management LP lifted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 24.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,747,707 shares of the company’s stock after purchasing an additional 1,316,319 shares during the period. Alkami Technology makes up approximately 6.4% of JANA Partners Management LP’s holdings, making the stock its 7th biggest holding. JANA Partners Management LP owned approximately 0.06% of Alkami Technology worth $122,268,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ALKT. Summit Securities Group LLC boosted its holdings in Alkami Technology by 84.2% in the first 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 during the last quarter. Smartleaf Asset Management LLC increased its stake in Alkami Technology by 91.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after acquiring an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after acquiring an additional 916 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Alkami Technology in the 1st quarter worth about $36,000. Finally, Essential Partners LLC raised its holdings in shares of Alkami Technology by 7,090.9% in the 1st quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock worth $37,000 after purchasing an additional 2,340 shares during the period. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALKT has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. JPMorgan Chase & Co. increased their target price on shares of Alkami Technology from $19.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Finally, Needham & Company LLC raised their price target on shares of Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.80.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $20.09 on Friday. The firm’s fifty day simple moving average is $18.82 and its 200 day simple moving average is $17.34. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.98. Alkami Technology, Inc. has a twelve month low of $13.98 and a twelve month high of $26.89. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -47.83 and a beta of 0.61.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.23). The company had revenue of $129.84 million during the quarter, compared to analyst estimates of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) earnings per share. As a group, equities research analysts expect that Alkami Technology, Inc. will post 0.14 earnings per share for the current fiscal year.

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.