84,532 Alkami Technology, Inc. $ALKT Shares Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its Alkami Technology stake by 3,740.4% in the third quarter, acquiring 84,532 additional shares for a total of 86,792 shares valued at approximately $1.19 million.
• Analyst sentiment is mixed: three analysts rate ALKT a Buy, three a Hold and two a Sell. The consensus rating is Hold, with an average price target of $20.80.
• Alkami’s latest quarterly revenue rose 15.8% year over year to $129.84 million, but the company reported an adjusted loss of $0.08 per share, missing analyst expectations of $0.15 in earnings.

Farther Finance Advisors LLC increased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 3,740.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,792 shares of the company's stock after acquiring an additional 84,532 shares during the quarter. Farther Finance Advisors LLC owned approximately 0.08% of Alkami Technology worth $1,188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Summit Securities Group LLC increased its stake in Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock valued at $29,000 after buying an additional 842 shares during the period. IFP Advisors Inc lifted its holdings in shares of Alkami Technology by 46,900.0% during the 2nd quarter. IFP Advisors Inc now owns 1,410 shares of the company's stock valued at $26,000 after buying an additional 1,407 shares during the last quarter. State of Wyoming increased its holdings in shares of Alkami Technology by 42.8% during the 1st quarter. State of Wyoming now owns 6,508 shares of the company's stock valued at $102,000 after acquiring an additional 1,951 shares during the last quarter. Optiver Holding B.V. bought a new stake in Alkami Technology during the first quarter valued at about $36,000. Finally, Essential Partners LLC lifted its holdings in shares of Alkami Technology by 7,090.9% during the first quarter. Essential Partners LLC now owns 2,373 shares of the company's stock worth $37,000 after buying an additional 2,340 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALKT shares. Barclays decreased their price target on shares of Alkami Technology from $21.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Monday. Needham & Company LLC lifted their target price on Alkami Technology from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 24th. Citigroup reaffirmed a "market outperform" rating on shares of Alkami Technology in a report on Thursday, September 24th. Weiss Ratings restated a "sell (e+)" rating on shares of Alkami Technology in a report on Wednesday, September 2nd. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $24.00 target price on shares of Alkami Technology in a research note on Thursday, September 24th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Alkami Technology has an average rating of "Hold" and a consensus target price of $20.80.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $14.23 on Friday. Alkami Technology, Inc. has a one year low of $13.20 and a one year high of $24.47. 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's fifty day moving average price is $17.81 and its two-hundred day moving average price is $17.23. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -33.88 and a beta of 0.60.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $129.84 million for the quarter, compared to analyst estimates of $128.70 million. During the same quarter in the previous year, the company earned ($0.13) EPS. The business's revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Alkami Technology, Inc. will post 0.15 EPS for the current year.

Alkami Technology Profile

Alkami Technology, Inc is a financial technology company that provides cloud-based digital banking solutions to banks and credit unions. Its platform is designed to help financial institutions deliver online and mobile banking services while managing customer engagement, account access and daily banking activities through digital channels.

The company's products and services include digital account opening, consumer and business banking capabilities, payments, card management, money movement, financial wellness tools, data and analytics, marketing and customer relationship management.

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