Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Buys 229,391 Shares

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 purchased 229,391 shares of the stock in a transaction on Wednesday, August 13th. The shares were acquired at an average cost of $22.44 per share, with a total value of $5,147,534.04. Following the transaction, the director directly owned 12,033,436 shares in the company, valued at $270,030,303.84. The trade was a 1.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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 stock was bought at an average cost of $21.46 per share, with a total value of $11,089,905.66.
• On Monday, August 11th, Atlantic Genpar (Bermu General purchased 650,000 shares of Alkami Technology stock. The stock was bought at an average cost of $20.70 per share, with a total value of $13,455,000.00.

Alkami Technology Stock Performance

ALKT stock traded down $0.27 on Monday, hitting $22.82. The company had a trading volume of 369,079 shares, compared to its average volume of 1,187,526. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. Alkami Technology, Inc. has a 12-month low of $19.94 and a 12-month high of $42.29. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -60.01 and a beta of 0.57. The stock's 50-day simple moving average is $27.03 and its 200 day simple moving average is $27.91.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JMP Securities reiterated a "market outperform" rating and set a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Lake Street Capital lowered their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC lowered their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. started coverage on Alkami Technology in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Alkami Technology presently has an average rating of "Moderate Buy" and a consensus price target of $39.25.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently modified their holdings of ALKT. CWM LLC grew its holdings in shares of Alkami Technology by 176.2% in the second quarter. CWM LLC now owns 942 shares of the company's stock worth $28,000 after acquiring an additional 601 shares during the period. Perkins Coie Trust Co grew its stake in shares of Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after purchasing an additional 500 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock valued at $35,000 after purchasing an additional 916 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Alkami Technology in the 1st quarter worth approximately $36,000. Finally, Assetmark Inc. purchased a new position in shares of Alkami Technology in the second quarter worth approximately $44,000. 54.97% of the stock is owned by institutional investors.

About Alkami Technology

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.