Alkami Technology (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Purchases 675,000 Shares

Key Points

• Director Atlantic Genpar (Bermu General) bought 675,000 shares of Alkami Technology at an average price of $16.49, a transaction worth about $11.1 million. The purchase increased the director’s holdings by 3.6% to 19.42 million shares.
• ALKT shares rose 0.3% to $16.62 on Thursday, with trading volume above average. The stock remains well below its 200-day moving average and its 12-month high of $31.18.
• Recent earnings and analyst sentiment were mixed: Alkami reported a smaller-than-expected loss but beat revenue estimates, while analysts’ consensus rating remains “Hold” with an average price target of $22.80.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General purchased 675,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $16.49 per share, for a total transaction of $11,130,750.00. Following the completion of the acquisition, the director directly owned 19,420,994 shares in the company, valued at $320,252,191.06. The trade was a 3.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, May 13th, Atlantic Genpar (Bermu General bought 550,000 shares of Alkami Technology stock. The shares were bought at an average cost of $16.63 per share, for a total transaction of $9,146,500.00.
• On Tuesday, May 12th, Atlantic Genpar (Bermu General purchased 750,000 shares of Alkami Technology stock. The stock was purchased 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 acquired 844,772 shares of Alkami Technology stock. The shares were purchased at an average cost of $16.63 per share, for a total transaction of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General bought 700,000 shares of Alkami Technology stock. The stock was purchased at an average cost 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 shares were purchased at an average cost of $16.92 per share, for a total transaction of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General acquired 500,000 shares of Alkami Technology stock. The stock was acquired at an average price of $18.33 per share, with a total value of $9,165,000.00.

Alkami Technology Trading Up 0.3%

Shares of ALKT stock traded up $0.05 during trading hours on Thursday, hitting $16.62. 2,815,506 shares of the company's stock traded hands, compared to its average volume of 1,873,479. The stock's 50 day simple moving average is $16.79 and its 200 day simple moving average is $19.13. 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 12 month low of $14.11 and a 12 month high of $31.18. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. During the same period in the prior year, the business earned $0.08 earnings per share. The firm's revenue for the quarter was up 28.9% on a year-over-year basis. On average, sell-side analysts anticipate that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC lifted its holdings in Alkami Technology by 84.2% during the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock worth $29,000 after acquiring an additional 842 shares during the period. First Horizon Corp bought a new stake in shares of Alkami Technology in the third quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its holdings in shares of Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock worth $34,000 after acquiring an additional 692 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock worth $35,000 after purchasing an additional 916 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in Alkami Technology during the fourth quarter valued at approximately $37,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALKT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Alkami Technology from $38.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. Barclays decreased their price objective on shares of 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. Needham & Company LLC dropped their target price on shares of Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Citizens Jmp cut their price target on shares of Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 30th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Alkami Technology in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $22.80.

Alkami Technology Company Profile

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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