96,600 Shares in Alkami Technology, Inc. $ALKT Purchased by Galaxy Digital Capital Management GP LLC

Key Points

• Galaxy Digital Capital Management purchased 96,600 shares of Alkami Technology worth approximately $1.75 million, giving it a 0.09% stake. Institutional investors collectively own 54.97% of the company.
• Alkami reported quarterly revenue of $129.84 million, up 15.8% year over year and slightly above estimates, but its adjusted loss of $0.08 per share missed the $0.15 consensus forecast.
• The stock opened at $20.13, while analysts maintain a consensus “Hold” rating and an average price target of $23.80; coverage includes three Buy, three Hold, and one Sell rating.

Galaxy Digital Capital Management GP LLC bought a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 96,600 shares of the company's stock, valued at approximately $1,750,000. Galaxy Digital Capital Management GP LLC owned 0.09% of Alkami Technology at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC boosted its stake in Alkami Technology by 84.2% in the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock worth $29,000 after purchasing an additional 842 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Alkami Technology by 91.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock valued at $34,000 after buying an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock valued at $35,000 after buying an additional 916 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Alkami Technology in the first quarter worth $36,000. Finally, Essential Partners LLC boosted its position 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 acquiring an additional 2,340 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Trading Down 0.9%

Shares of NASDAQ ALKT opened at $20.13 on Wednesday. Alkami Technology, Inc. has a 1-year low of $13.98 and a 1-year high of $26.89. 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 business's 50 day moving average is $18.12 and its two-hundred day moving average is $17.18. The stock has a market capitalization of $2.15 billion, a P/E ratio of -47.93 and a beta of 0.58.

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 during the quarter, compared to the consensus estimate of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. Alkami Technology's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.13) earnings per share. As a group, research analysts expect that Alkami Technology, Inc. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of research reports. Citizens Jmp reduced their price target on shares of Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Alkami Technology from $19.00 to $24.00 and gave the company an "overweight" rating in a report on Monday. Needham & Company LLC raised their price objective on Alkami Technology from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alkami Technology in a report on Friday, June 5th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $23.80.

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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