53,356 Shares in Alkami Technology, Inc. $ALKT Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 53,356 shares of the company's stock, valued at approximately $967,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. North Reef Capital Management LP lifted its stake in shares of Alkami Technology by 264.3% during the 1st quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company's stock worth $119,876,000 after purchasing an additional 5,550,000 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Alkami Technology in the second quarter worth about $46,927,000. Irenic Capital Management LP bought a new position in Alkami Technology in the fourth quarter worth about $48,596,000. Cadian Capital Management LP bought a new position in Alkami Technology in the fourth quarter worth about $26,969,000. Finally, Westfield Capital Management Co. LP lifted its position in shares of Alkami Technology by 33.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company's stock valued at $95,010,000 after buying an additional 1,023,297 shares during the last quarter. Institutional investors own 54.97% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALKT shares. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $19.00 to $24.00 and gave the company an "overweight" rating in a report on Monday, August 24th. Needham & Company LLC boosted their price objective 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 Wednesday, September 2nd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alkami Technology presently has a consensus rating of "Hold" and a consensus price target of $23.80.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $19.69 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market cap of $2.11 billion, a PE ratio of -46.88 and a beta of 0.61. The business has a 50-day simple moving average of $18.94 and a two-hundred day simple moving average of $17.39. Alkami Technology, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $26.89.

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

About Alkami Technology

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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