Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Buys $12,652,500.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General purchased 750,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $16.87 per share, for a total transaction of $12,652,500.00. Following the transaction, the director owned 18,195,994 shares of the company’s stock, valued at $306,966,418.78. The trade was a 4.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Thursday, May 14th, Atlantic Genpar (Bermu General purchased 675,000 shares of Alkami Technology stock. The stock was acquired at an average price of $16.49 per share, for a total transaction of $11,130,750.00.
• On Wednesday, May 13th, Atlantic Genpar (Bermu General purchased 550,000 shares of Alkami Technology stock. The stock was acquired at an average price of $16.63 per share, for a total transaction of $9,146,500.00.
• On Wednesday, May 6th, Atlantic Genpar (Bermu General purchased 844,772 shares of Alkami Technology stock. The stock was acquired at an average price of $16.63 per share, for a total transaction of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General purchased 700,000 shares of Alkami Technology stock. The stock was acquired at an average price of $16.84 per share, for a total transaction of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General acquired 521,771 shares of Alkami Technology stock. The shares were purchased at an average price of $16.92 per share, for a total transaction of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General acquired 500,000 shares of Alkami Technology stock. The shares were purchased at an average price of $18.33 per share, for a total transaction of $9,165,000.00.

Alkami Technology Trading Down 0.1%

NASDAQ ALKT opened at $16.61 on Friday. Alkami Technology, Inc. has a twelve month low of $14.11 and a twelve month high of $31.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -35.34 and a beta of 0.54. The firm’s 50 day moving average price is $16.79 and its two-hundred day moving average price is $19.12.

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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $125.22 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities analysts anticipate that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. General Atlantic L.P. grew its holdings in shares of Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after acquiring an additional 2,346,162 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Alkami Technology by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after acquiring an additional 456,275 shares in the last quarter. North Reef Capital Management LP grew its holdings in shares of Alkami Technology by 264.3% during the 1st quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company’s stock valued at $119,876,000 after acquiring an additional 5,550,000 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Alkami Technology by 33.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after purchasing an additional 1,023,297 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in shares of Alkami Technology by 56.3% in the 3rd 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.

Analyst Ratings Changes

Several research firms have weighed in on ALKT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Citizens Jmp lowered their price objective 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. Barclays lowered their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC lowered their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.80.

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.