Atlantic Genpar (Bermu General Buys 700,000 Shares of Alkami Technology (NASDAQ:ALKT) Stock

Key Points

• Atlantic Genpar bought 700,000 shares of Alkami on May 5 at $16.84 ($11.79M) and now directly owns 16,601,222 shares (valued at about $279.6M), a 4.4% increase in its stake; the firm made additional purchases (May 4, May 6, Mar 12) totaling about 2.57M shares for roughly $43.8M.
• Alkami reported an earnings miss (EPS of -$0.09 vs. $0.21 expected) but revenue rose 28.9% to $126.14M; the stock trades near $16.75 with a market cap of $1.79B and a negative P/E.
• Analyst sentiment is mixed — three Buys, three Holds and one Sell — with an average target of $22.80 after several firms trimmed their price targets recently.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General acquired 700,000 shares of Alkami Technology stock in a transaction on Tuesday, May 5th. The shares were bought at an average cost of $16.84 per share, for a total transaction of $11,788,000.00. Following the completion of the purchase, the director directly owned 16,601,222 shares of the company's stock, valued at $279,564,578.48. The trade was a 4.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, May 6th, Atlantic Genpar (Bermu General acquired 844,772 shares of Alkami Technology stock. The shares were bought at an average cost of $16.63 per share, for a total transaction of $14,048,558.36.
• On Monday, May 4th, Atlantic Genpar (Bermu General acquired 521,771 shares of Alkami Technology stock. The shares were bought 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 shares were bought at an average cost of $18.33 per share, for a total transaction of $9,165,000.00.

Alkami Technology Trading Down 0.6%

NASDAQ ALKT traded down $0.10 during trading hours on Wednesday, hitting $16.75. 2,373,742 shares of the company were exchanged, compared to its average volume of 1,663,961. The stock has a 50-day moving average price of $16.70 and a 200 day moving average price of $19.39. 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, Inc. has a 52 week low of $14.11 and a 52 week high of $31.66. The stock has a market cap of $1.79 billion, a PE ratio of -35.64 and a beta of 0.54.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) earnings per share 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 previous year, the firm earned $0.08 earnings per share. The company's revenue was up 28.9% compared to the same quarter last year. Analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citizens Jmp dropped their target price on Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating for the company in a research report on Thursday, April 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Barclays dropped their target price on 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. JPMorgan Chase & Co. dropped their target price on Alkami Technology from $38.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Finally, Needham & Company LLC dropped their target price on Alkami Technology from $32.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Three equities research 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. According to data from MarketBeat.com, Alkami Technology has an average rating of "Hold" and an average target price of $22.80.

Institutional Trading of Alkami Technology

A number of large investors have recently modified their holdings of ALKT. Amundi boosted its holdings 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 purchasing an additional 548 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock valued at $64,000 after purchasing an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Alkami Technology by 19.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company's stock valued at $947,000 after purchasing an additional 5,884 shares during the period. Millennium Management LLC boosted its holdings in shares of Alkami Technology by 64.7% in the first quarter. Millennium Management LLC now owns 698,677 shares of the company's stock valued at $18,340,000 after purchasing an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Alkami Technology by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company's stock valued at $18,920,000 after purchasing an additional 71,949 shares during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

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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