Key Points
- Director Atlantic Genpar bought 500,000 shares of Alkami Technology on March 12 at an average price of $18.33 for a $9.165 million purchase, raising his stake to 15,379,451 shares (a 3.36% increase), according to an SEC filing.
- Analysts have cut price targets recently (e.g., Barclays to $21, JPMorgan to $22) and the stock has an average MarketBeat rating of "Hold" with a $26.67 average target; Alkami trades below its 200-day moving average, is down about 2.2% in the session, and shows negative earnings (P/E -38.28) with a market cap near $1.87 billion.
Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General bought 500,000 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $18.33 per share, for a total transaction of $9,165,000.00. Following the purchase, the director owned 15,379,451 shares of the company's stock, valued at approximately $281,905,336.83. The trade was a 3.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Alkami Technology Trading Down 2.2%
Shares of NASDAQ ALKT opened at $17.61 on Tuesday. Alkami Technology, Inc. has a fifty-two week low of $14.11 and a fifty-two week high of $31.66. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.09. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -38.28 and a beta of 0.57. The business's 50 day moving average price is $18.66 and its 200-day moving average price is $21.42.
Analyst Ratings Changes
A number of analysts have weighed in on ALKT shares. Barclays reduced their target price 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. JPMorgan Chase & Co. cut their price target on shares of Alkami Technology from $38.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Needham & Company LLC decreased their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Finally, Citizens Jmp lowered their price objective on shares of Alkami Technology from $40.00 to $28.00 and set a "market outperform" rating for the company in a research report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $26.67.
Get Our Latest Stock Report on Alkami Technology
Institutional Investors Weigh In On Alkami Technology
A number of institutional investors and hedge funds have recently bought and sold shares of the company. General Atlantic L.P. lifted its holdings in shares of Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company's stock worth $297,868,000 after buying an additional 2,346,162 shares during the period. Vanguard Group Inc. grew its position 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 worth $194,121,000 after buying an additional 456,275 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Alkami Technology by 33.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company's stock valued at $95,010,000 after buying an additional 1,023,297 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in shares of Alkami Technology by 56.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company's stock valued at $96,202,000 after buying an additional 1,394,617 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Alkami Technology by 13.3% in the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company's stock valued at $91,405,000 after acquiring an additional 430,632 shares in the last quarter. 54.97% of the stock is owned by institutional investors.
About Alkami Technology
(
Get Free Report)
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.
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