Key Points
- Alkami Technology director Atlantic Genpar (Bermu General) bought 550,000 shares on May 13 for about $9.15 million at an average price of $16.63 per share, increasing its stake by 3.02%.
- The director has been aggressively accumulating shares in recent days, with multiple additional purchases totaling millions of dollars across May 4, May 5, May 6, May 12, and May 14.
- Alkami reported a quarterly loss of $0.09 per share, missing estimates, even though revenue rose 28.9% year over year; analysts currently rate the stock a Hold with an average price target of $22.80.
Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General purchased 550,000 shares of Alkami Technology stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $16.63 per share, with a total value of $9,146,500.00. Following the completion of the transaction, the director owned 18,745,994 shares of the company's stock, valued at $311,745,880.22. This represents a 3.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
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 bought at an average price of $16.49 per share, with a total value of $11,130,750.00.
- On Tuesday, May 12th, Atlantic Genpar (Bermu General purchased 750,000 shares of Alkami Technology stock. The stock was bought at an average price of $16.87 per share, with a total value of $12,652,500.00.
- On Wednesday, May 6th, Atlantic Genpar (Bermu General purchased 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 purchased 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 Monday, May 4th, Atlantic Genpar (Bermu General purchased 521,771 shares of Alkami Technology stock. The stock was bought at an average price of $16.92 per share, with a total value of $8,828,365.32.
- On Thursday, March 12th, Atlantic Genpar (Bermu General purchased 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 Price Performance
Shares of NASDAQ ALKT opened at $16.62 on Friday. The stock has a market cap of $1.78 billion, a PE ratio of -35.36 and a beta of 0.54. Alkami Technology, Inc. has a fifty-two week low of $14.11 and a fifty-two week 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 fifty day moving average of $16.79 and a 200-day moving average of $19.13.
Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings results 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 net margin of 10.55% and a negative return on equity of 8.91%. The company had revenue of $126.14 million during the quarter, compared to analysts' expectations of $125.22 million. During the same quarter last year, the firm posted $0.08 earnings per share. Alkami Technology's revenue for the quarter was up 28.9% compared to the same quarter last year. Equities research analysts anticipate that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Needham & Company LLC reduced their target price on Alkami Technology from $32.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. reduced their target price on Alkami Technology from $38.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Citizens Jmp reduced their target price on 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Finally, Barclays dropped their target price on 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. Three research 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. According to MarketBeat.com, Alkami Technology has an average rating of "Hold" and an average price target of $22.80.
View Our Latest Research Report on ALKT
Institutional Investors Weigh In On Alkami Technology
Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC lifted its stake in shares of Alkami Technology by 84.2% in the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock valued at $29,000 after acquiring an additional 842 shares during the last quarter. First Horizon Corp bought a new stake in shares of Alkami Technology in the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC lifted its stake in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock valued at $34,000 after acquiring an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock valued at $35,000 after acquiring an additional 916 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Alkami Technology during the 4th quarter valued at approximately $37,000. Institutional investors own 54.97% of the company's stock.
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.
Further Reading
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