132,250 Shares in Alkami Technology, Inc. $ALKT Purchased by Cibc World Market Inc.

Cibc World Market Inc. purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the second quarter, HoldingsChannel reports. The firm purchased 132,250 shares of the company’s stock, valued at approximately $2,396,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALKT. Summit Securities Group LLC boosted its stake in shares of Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after acquiring an additional 842 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after buying an additional 692 shares during the period. EverSource Wealth Advisors LLC grew its stake in 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 buying an additional 916 shares during the last quarter. Optiver Holding B.V. acquired a new position in Alkami Technology in the 1st quarter valued at about $36,000. Finally, Essential Partners LLC boosted its holdings in shares of Alkami Technology by 7,090.9% during the first quarter. Essential Partners LLC now owns 2,373 shares of the company’s stock worth $37,000 after acquiring an additional 2,340 shares during the period. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Up 1.1%

Shares of ALKT opened at $20.35 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13. Alkami Technology, Inc. has a 52 week low of $13.98 and a 52 week high of $26.89. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -48.45 and a beta of 0.58. The stock has a fifty day moving average of $18.23 and a 200-day moving average of $17.21.

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

Wall Street Analyst Weigh In

ALKT has been the subject of several recent research reports. Citizens Jmp reduced their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Needham & Company LLC lifted their target price on Alkami Technology from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Monday. Finally, 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. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.80.

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.