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

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 Alkami Technology stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $21.46 per share, with a total value of $11,089,905.66. Following the transaction, the director owned 11,804,045 shares in the company, valued at approximately $253,314,805.70. This trade represents a 4.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

Alkami Technology Price Performance

NASDAQ ALKT traded down $0.27 on Monday, hitting $22.82. The stock had a trading volume of 369,079 shares, compared to its average volume of 1,187,526. The firm has a 50-day moving average of $27.03 and a 200-day moving average of $27.91. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. Alkami Technology, Inc. has a 52-week low of $19.94 and a 52-week high of $42.29. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -60.01 and a beta of 0.57.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALKT. CWM LLC grew 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 in the last quarter. 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 valued at $34,000 after purchasing an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC grew 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 buying an additional 916 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Alkami Technology in the 1st quarter worth $36,000. Finally, Assetmark Inc. purchased a new stake in shares of Alkami Technology during the 2nd quarter valued at $44,000. Institutional investors own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

ALKT has been the topic of a number of analyst reports. Needham & Company LLC cut their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a research note on Thursday, May 1st. Lake Street Capital dropped their price target on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. began coverage on Alkami Technology in a research note on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

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.