Alkami Technology, Inc. (NASDAQ:ALKT) Director Acquires $5,147,534.04 in Stock

Key Points

• Alkami Technology's Director, Atlantic Genpar (Bermu General), purchased $5.14 million worth of stock, acquiring 229,391 shares at an average price of $22.44 each, increasing their total holdings to over 12 million shares.
• The stock price of Alkami Technology saw an increase of 3.9%, reaching $22.59 per share, with significant trading volume of 2.57 million shares on that day.
• Several research firms have adjusted their price targets for Alkami Technology, with the consensus rating being a "Moderate Buy" and a target price of $39.25.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General bought 229,391 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $22.44 per share, for a total transaction of $5,147,534.04. Following the completion of the transaction, the director owned 12,033,436 shares of the company's stock, valued at $270,030,303.84. This represents a 1.94% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, August 12th, Atlantic Genpar (Bermu General bought 516,771 shares of Alkami Technology stock. The shares were purchased at an average price of $21.46 per share, for a total transaction of $11,089,905.66.
• On Monday, August 11th, Atlantic Genpar (Bermu General bought 650,000 shares of Alkami Technology stock. The shares were purchased at an average price of $20.70 per share, for a total transaction of $13,455,000.00.

Alkami Technology Trading Up 3.9%

NASDAQ ALKT traded up $0.85 during trading hours on Wednesday, hitting $22.59. 2,574,127 shares of the company's stock were exchanged, compared to its average volume of 1,609,439. The business's 50 day moving average is $27.33 and its 200-day moving average is $28.20. Alkami Technology, Inc. has a 12-month low of $19.94 and a 12-month high of $42.29. The firm has a market capitalization of $2.35 billion, a P/E ratio of -59.45 and a beta of 0.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68.

Hedge Funds Weigh In On Alkami Technology

Large investors have recently added to or reduced their stakes in the business. CWM LLC lifted its position in Alkami Technology by 176.2% during the second quarter. CWM LLC now owns 942 shares of the company's stock worth $28,000 after buying an additional 601 shares during the period. Perkins Coie Trust Co lifted its position in Alkami Technology by 62.5% during the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock worth $34,000 after buying an additional 500 shares during the period. EverSource Wealth Advisors LLC lifted its position in Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock worth $35,000 after buying an additional 916 shares during the period. Versant Capital Management Inc purchased a new position in Alkami Technology during the first quarter worth about $36,000. Finally, Assetmark Inc. purchased a new position in Alkami Technology during the second quarter worth about $44,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ALKT. Needham & Company LLC decreased their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. began coverage on Alkami Technology in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price objective on the stock. Lake Street Capital reduced their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, JMP Securities restated a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.

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