Atlantic Genpar (Bermu General Acquires 516,771 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Key Points

• Atlantic Genpar (Bermu General) acquired 516,771 shares of Alkami Technology at an average price of $21.46, increasing their ownership to 11,804,045 shares.
• Shares of Alkami Technology reached $22.59 on the stock market, with a trading volume of 2,574,127 shares and a market capitalization of $2.35 billion.
• Analysts have mixed ratings on Alkami Technology, with price targets ranging from $39.25 to $47.00, reflecting a general consensus of "Moderate Buy."

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General acquired 516,771 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $21.46 per share, with a total value of $11,089,905.66. Following the completion of the acquisition, the director directly owned 11,804,045 shares in the company, valued at approximately $253,314,805.70. This represents a 4.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, August 13th, Atlantic Genpar (Bermu General acquired 229,391 shares of Alkami Technology stock. The shares were bought at an average cost of $22.44 per share, with a total value of $5,147,534.04.
• On Monday, August 11th, Atlantic Genpar (Bermu General bought 650,000 shares of Alkami Technology stock. The stock was acquired at an average price of $20.70 per share, with a total value of $13,455,000.00.

Alkami Technology Price Performance

ALKT traded up $0.85 during midday trading on Wednesday, reaching $22.59. 2,574,127 shares of the company's stock were exchanged, compared to its average volume of 1,609,439. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -59.45 and a beta of 0.57. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17. Alkami Technology, Inc. has a one year low of $19.94 and a one year high of $42.29. The business has a 50-day simple moving average of $27.33 and a two-hundred day simple moving average of $28.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bosun Asset Management LLC raised its stake in shares of Alkami Technology by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after acquiring an additional 313 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Alkami Technology by 27.6% in the second quarter. Blue Trust Inc. now owns 1,852 shares of the company's stock valued at $56,000 after acquiring an additional 401 shares during the last quarter. Perkins Coie Trust Co raised its stake in shares of Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Covestor Ltd raised its stake in shares of Alkami Technology by 18.8% in the first quarter. Covestor Ltd now owns 3,252 shares of the company's stock valued at $85,000 after acquiring an additional 514 shares during the last quarter. Finally, Amundi raised its stake in shares of Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company's stock valued at $731,000 after acquiring an additional 548 shares during the last quarter. Institutional investors own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALKT shares. Lake Street Capital cut their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and set a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. JPMorgan Chase & Co. started coverage on Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price objective for the company. Finally, Needham & Company LLC cut their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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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