Crescent Grove Advisors LLC Purchases Shares of 50,000 Alkami Technology, Inc. $ALKT

Crescent Grove Advisors LLC purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 50,000 shares of the company’s stock, valued at approximately $1,154,000.

Several other hedge funds also recently added to or reduced their stakes in ALKT. General Atlantic L.P. increased its stake in Alkami Technology by 24.3% in the third 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 last quarter. Westfield Capital Management Co. LP increased its stake in Alkami Technology by 160.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after purchasing an additional 1,904,474 shares during the last quarter. JANA Partners Management LP purchased a new position in Alkami Technology in the third quarter valued at approximately $47,008,000. Long Path Partners LP increased its stake in 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 purchasing an additional 1,490,357 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in Alkami Technology by 56.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after purchasing an additional 1,394,617 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 844,772 shares of the stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the completion of the transaction, the director owned 17,445,994 shares in the company, valued at approximately $290,126,880.22. The trade was a 5.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Atlantic L.P. General bought 1,103,749 shares of the stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price of $17.56 per share, for a total transaction of $19,381,832.44. Following the completion of the transaction, the director owned 13,979,451 shares of the company’s stock, valued at approximately $245,479,159.56. The trade was a 8.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 7,393,058 shares of company stock worth $127,424,086. Insiders own 17.10% of the company’s stock.

Alkami Technology Stock Performance

Shares of ALKT opened at $16.62 on Thursday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1.78 billion, a PE ratio of -35.37 and a beta of 0.58. The company’s 50 day simple moving average is $16.72 and its 200-day simple moving average is $18.78. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.18.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). The business had revenue of $126.14 million for the quarter, compared to analysts’ expectations of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the business posted $0.08 earnings per share. As a group, equities analysts predict that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALKT. Needham & Company LLC dropped their price target on shares of 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 dropped their price target on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Barclays dropped their price target on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Three 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.80.

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.