Alkami Technology, Inc. $ALKT Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 94.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 11,632 shares of the company’s stock after selling 202,347 shares during the quarter. SG Americas Securities LLC’s holdings in Alkami Technology were worth $182,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALKT. General Atlantic L.P. boosted its position in shares of Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after purchasing an additional 2,346,162 shares during the period. Irenic Capital Management LP acquired a new position in Alkami Technology during the fourth quarter worth approximately $48,596,000. North Reef Capital Management LP lifted its stake in Alkami Technology by 1,545.7% in the fourth quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company’s stock valued at $48,447,000 after buying an additional 1,972,396 shares during the last quarter. JANA Partners Management LP purchased a new stake in Alkami Technology in the third quarter valued at approximately $47,008,000. Finally, Long Path Partners LP boosted its holdings in shares of Alkami Technology by 138.2% in the third quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock valued at $63,810,000 after acquiring an additional 1,490,357 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKT has been the topic of a number of research reports. Citizens Jmp lowered their target price on shares of 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. lowered their price objective 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. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.20.

Alkami Technology Stock Performance

ALKT stock traded down $0.36 during trading on Friday, hitting $17.35. The company had a trading volume of 1,047,748 shares, compared to its average volume of 2,158,331. The firm has a 50-day moving average price of $16.72 and a 200-day moving average price of $17.85. 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 firm has a market cap of $1.86 billion, a PE ratio of -36.91 and a beta of 0.57. Alkami Technology, Inc. has a 1-year low of $13.98 and a 1-year high of $30.17.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). The company had revenue of $126.14 million for the quarter, compared to analyst estimates of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. On average, analysts expect that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were purchased 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 in the company, valued at approximately $320,252,191.06. This represents a 3.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 4,041,543 shares of company stock worth $67,594,674 over the last three months. 17.10% of the stock is owned by company insiders.

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.