149,907 Shares in Alkami Technology, Inc. $ALKT Purchased by Susquehanna Fundamental Investments LLC

Key Points

• Susquehanna Fundamental Investments acquired 149,907 Alkami Technology shares worth approximately $2.7 million, while several other institutions also added positions; institutional investors and hedge funds now own 54.97% of the stock.
• Analysts have raised their price targets, with JPMorgan at $24 and Needham at $25, but the overall consensus remains “Hold” with an average target of $23.80.
• Alkami’s latest quarter showed 15.8% year-over-year revenue growth to $129.84 million, though the company missed earnings expectations by reporting a loss of $0.08 per share.

Susquehanna Fundamental Investments LLC bought a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 149,907 shares of the company's stock, valued at approximately $2,716,000. Susquehanna Fundamental Investments LLC owned approximately 0.14% of Alkami Technology at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Bluefin Capital Management LLC acquired a new stake in Alkami Technology during the 2nd quarter valued at $2,677,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alkami Technology by 87.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 242,763 shares of the company's stock valued at $4,399,000 after acquiring an additional 113,390 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of Alkami Technology in the second quarter valued at $2,785,000. Bank of America Corp DE acquired a new stake in shares of Alkami Technology during the second quarter valued at $18,451,000. Finally, Praesidium Investment Management Company LLC purchased a new stake in Alkami Technology during the 2nd quarter worth about $12,765,486. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALKT has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Alkami Technology from $19.00 to $24.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. Needham & Company LLC raised their price target on shares of Alkami Technology from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 24th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $23.80.

Alkami Technology Stock Up 0.9%

ALKT opened at $20.40 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -48.57 and a beta of 0.58. The business has a 50-day moving average of $18.57 and a two-hundred day moving average of $17.27. Alkami Technology, Inc. has a 12 month low of $13.98 and a 12 month high of $26.89.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.23). Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.The company had revenue of $129.84 million for the quarter, compared to analysts' expectations of $128.70 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The company's revenue was up 15.8% on a year-over-year basis. On average, research analysts expect that Alkami Technology, Inc. will post 0.14 earnings per share for the current year.

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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