Alkami Technology (NASDAQ:ALKT) Director Atlantic L.P. General Purchases 900,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General bought 900,000 shares of Alkami Technology stock in a transaction dated Wednesday, March 11th. The shares were bought at an average cost of $18.41 per share, for a total transaction of $16,569,000.00. Following the completion of the acquisition, the director owned 14,879,451 shares in the company, valued at $273,930,692.91. This represents a 6.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Atlantic L.P. General also recently made the following trade(s):

• On Monday, March 9th, Atlantic L.P. General purchased 842,266 shares of Alkami Technology stock. The stock was bought at an average cost of $17.35 per share, with a total value of $14,613,315.10.
• On Tuesday, March 10th, Atlantic L.P. General acquired 1,103,749 shares of Alkami Technology stock. The shares were purchased at an average cost of $17.56 per share, with a total value of $19,381,832.44.

Alkami Technology Trading Up 3.4%

Shares of Alkami Technology stock opened at $18.57 on Thursday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.01. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.66. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -40.37 and a beta of 0.57. The firm’s 50-day moving average price is $18.97 and its two-hundred day moving average price is $21.60.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reduced their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Needham & Company LLC decreased their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Citizens Jmp lowered their price target on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a report on Thursday, February 26th. Finally, Barclays dropped their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Five investment 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.57.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp acquired a new stake in Alkami Technology in the third quarter valued at approximately $30,000. Smartleaf Asset Management LLC lifted its stake 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 last quarter. EverSource Wealth Advisors LLC lifted its stake 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 last quarter. Global Retirement Partners LLC acquired a new stake in shares of Alkami Technology during the 4th quarter valued at $37,000. Finally, AlphaQuest LLC boosted its holdings in shares of Alkami Technology by 54.5% during the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after acquiring an additional 544 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.