Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Purchases 521,771 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General acquired 521,771 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was bought at an average price of $16.92 per share, with a total value of $8,828,365.32. Following the acquisition, the director directly owned 15,901,222 shares of the company's stock, valued at $269,048,676.24. The trade was a 3.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, May 6th, Atlantic Genpar (Bermu General acquired 844,772 shares of Alkami Technology stock. The stock was bought at an average price of $16.63 per share, with a total value of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General acquired 700,000 shares of Alkami Technology stock. The stock was bought at an average price of $16.84 per share, with a total value of $11,788,000.00.
• On Thursday, March 12th, Atlantic Genpar (Bermu General acquired 500,000 shares of Alkami Technology stock. The stock was bought at an average price of $18.33 per share, with a total value of $9,165,000.00.

Alkami Technology Trading Down 0.6%

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NASDAQ ALKT opened at $16.75 on Thursday. The stock has a 50-day simple moving average of $16.70 and a 200 day simple moving average of $19.39. The company has a market capitalization of $1.79 billion, a PE ratio of -35.64 and a beta of 0.54. 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 12 month low of $14.11 and a 12 month high of $31.66.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.30). The company had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The company's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 EPS. Research analysts forecast that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALKT. General Atlantic L.P. grew its holdings in shares of Alkami Technology by 24.3% during the third 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 in the last quarter. Irenic Capital Management LP bought a new position in shares of Alkami Technology during the fourth quarter worth about $48,596,000. North Reef Capital Management LP boosted its position in Alkami Technology by 1,545.7% during the fourth quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company's stock valued at $48,447,000 after purchasing an additional 1,972,396 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Alkami Technology by 160.0% during 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. Finally, JANA Partners Management LP acquired a new position in Alkami Technology during the third quarter valued at approximately $47,008,000. 54.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALKT. JPMorgan Chase & Co. lowered their price target on Alkami Technology from $38.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, February 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Alkami Technology in a report on Wednesday, January 21st. Barclays lowered their price target on Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating for the company in a report on Thursday, February 26th. Needham & Company LLC lowered their price target on 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 target on Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating for the company in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.80.

Get Our Latest Stock Analysis on ALKT

Alkami Technology Company Profile

(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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