Sovereign s Capital Management LLC Has $5.38 Million Stake in Alkami Technology, Inc. $ALKT

Sovereign s Capital Management LLC raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 27.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,263 shares of the company’s stock after purchasing an additional 49,678 shares during the quarter. Alkami Technology accounts for approximately 3.3% of Sovereign s Capital Management LLC’s portfolio, making the stock its 6th largest position. Sovereign s Capital Management LLC owned about 0.22% of Alkami Technology worth $5,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Landscape Capital Management L.L.C. increased its stake in Alkami Technology by 53.4% during the 4th quarter. Landscape Capital Management L.L.C. now owns 14,948 shares of the company’s stock valued at $345,000 after purchasing an additional 5,205 shares in the last quarter. Barclays PLC increased its stake in Alkami Technology by 6.4% during the 4th quarter. Barclays PLC now owns 107,487 shares of the company’s stock valued at $2,480,000 after purchasing an additional 6,462 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Alkami Technology during the 4th quarter valued at $48,000. Marshall Wace LLP bought a new position in Alkami Technology during the 4th quarter valued at $3,981,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Alkami Technology by 13.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,894,274 shares of the company’s stock valued at $43,701,000 after acquiring an additional 229,891 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General bought 675,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $16.49 per share, for a total transaction of $11,130,750.00. Following the completion of the transaction, the director directly owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. The trade was a 3.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 4,041,543 shares of company stock worth $67,594,674 in the last quarter. Corporate insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALKT. Needham & Company LLC dropped their price objective 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. Barclays dropped their price objective on 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. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Citizens Jmp lowered their target price on 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. Finally, JPMorgan Chase & Co. lowered their target price on 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 issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.80.

Alkami Technology Stock Up 1.6%

Alkami Technology stock opened at $15.55 on Wednesday. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.08. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -33.09 and a beta of 0.58. 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 50 day simple moving average of $16.63 and a 200 day simple moving average of $18.43.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.30). The company 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 company’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, analysts predict that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Alkami Technology Company 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.