Alkami Technology, Inc. $ALKT Stock Position Lifted by Bamco Inc. NY

Bamco Inc. NY boosted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 24.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,983,065 shares of the company’s stock after acquiring an additional 588,033 shares during the period. Bamco Inc. NY’s holdings in Alkami Technology were worth $68,819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in Alkami Technology by 116.4% during the fourth quarter. AQR Capital Management LLC now owns 75,635 shares of the company’s stock valued at $1,745,000 after purchasing an additional 40,679 shares in the last quarter. Cetera Investment Advisers grew its position in Alkami Technology by 2.0% during the fourth quarter. Cetera Investment Advisers now owns 58,232 shares of the company’s stock valued at $1,343,000 after purchasing an additional 1,131 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Alkami Technology in the fourth quarter worth approximately $415,000. Praesidium Investment Management Company LLC grew its position in Alkami Technology by 13.4% in the fourth quarter. Praesidium Investment Management Company LLC now owns 2,287,096 shares of the company’s stock worth $52,763,000 after acquiring an additional 269,524 shares in the last quarter. Finally, Cadian Capital Management LP bought a new stake in Alkami Technology in the fourth quarter worth approximately $26,969,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ALKT. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Needham & Company LLC decreased their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Citizens Jmp decreased their target price on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research report on Thursday, April 30th. Barclays decreased their target price on shares of 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.80.

Insider Buying and Selling at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of Alkami Technology stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $16.49 per share, for a total transaction of $11,130,750.00. Following the completion of the purchase, the director owned 19,420,994 shares of the company’s stock, valued at $320,252,191.06. This represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired 4,041,543 shares of company stock valued at $67,594,674 in the last ninety days. 17.10% of the stock is currently owned by insiders.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $15.09 on Thursday. The firm has a fifty day simple moving average of $16.60 and a 200-day simple moving average of $18.39. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.08. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -32.11 and a beta of 0.58.

Alkami Technology (NASDAQ:ALKT) last issued 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). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The firm had revenue of $126.14 million during the quarter, compared to analyst estimates of $125.22 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Alkami Technology’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts expect that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

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.