Alkami Technology, Inc. $ALKT Position Raised by Penbrook Management LLC

Penbrook Management LLC lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 220.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,140 shares of the company’s stock after acquiring an additional 85,345 shares during the period. Alkami Technology accounts for approximately 2.2% of Penbrook Management LLC’s investment portfolio, making the stock its 10th biggest holding. Penbrook Management LLC owned about 0.12% of Alkami Technology worth $3,084,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALKT. Harbor Capital Advisors Inc. raised its holdings in shares of Alkami Technology by 370.5% during the second quarter. Harbor Capital Advisors Inc. now owns 63,660 shares of the company’s stock worth $1,919,000 after purchasing an additional 50,131 shares during the last quarter. Chicago Capital LLC acquired a new stake in Alkami Technology during the 3rd quarter worth about $33,665,000. Riverbridge Partners LLC grew its position in Alkami Technology by 7.2% during the 3rd quarter. Riverbridge Partners LLC now owns 2,250,685 shares of the company’s stock worth $55,907,000 after purchasing an additional 151,895 shares during the period. Tectonic Advisors LLC purchased a new position in shares of Alkami Technology during the 3rd quarter valued at about $1,256,000. Finally, Nomura Holdings Inc. lifted its holdings in shares of Alkami Technology by 282.9% in the 2nd quarter. Nomura Holdings Inc. now owns 316,135 shares of the company’s stock valued at $9,528,000 after buying an additional 233,571 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Stock Down 2.5%

Shares of ALKT opened at $23.09 on Wednesday. The firm has a market cap of $2.42 billion, a P/E ratio of -53.70 and a beta of 0.53. Alkami Technology, Inc. has a 12 month low of $18.71 and a 12 month high of $36.96. The stock’s 50 day moving average is $21.57 and its two-hundred day moving average is $24.07. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Thursday, October 30th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.29). Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.The business had revenue of $112.95 million for the quarter, compared to analyst estimates of $113.48 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. Analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $166,360.86. Following the sale, the insider owned 221,751 shares in the company, valued at $4,510,415.34. This trade represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Needham & Company LLC dropped their target price on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Barclays decreased their target price on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Finally, Citizens Jmp dropped their price target on shares of Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a research report on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.00.

About Alkami Technology

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.