Algebris UK Ltd. Buys 720,769 Shares of Alkami Technology, Inc. $ALKT

Key Points

• Algebris UK Ltd. sharply increased its stake in Alkami Technology by 140.6% in the fourth quarter, buying 720,769 shares and bringing its total holding to 1.23 million shares worth about $28.5 million.
• Recent Wall Street sentiment is mixed, with analysts issuing three Buy, three Hold, and one Sell rating; the consensus rating stands at Hold with a $22.80 price target.
• Alkami reported Q1 revenue growth of 28.9% to $126.14 million, but earnings missed estimates with EPS of -$0.09 versus the expected $0.21, and the stock was trading near $16.84.

Algebris UK Ltd. increased its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 140.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,233,546 shares of the company's stock after purchasing an additional 720,769 shares during the quarter. Alkami Technology makes up approximately 1.4% of Algebris UK Ltd.'s portfolio, making the stock its 19th biggest holding. Algebris UK Ltd. owned 1.17% of Alkami Technology worth $28,471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. AlphaQuest LLC raised its holdings in shares of Alkami Technology by 54.5% in the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company's stock worth $38,000 after purchasing an additional 544 shares during the period. Amundi raised its holdings in shares of Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company's stock worth $731,000 after purchasing an additional 548 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock worth $64,000 after purchasing an additional 594 shares during the period. Legal & General Group Plc raised its holdings in shares of Alkami Technology by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company's stock worth $2,113,000 after purchasing an additional 691 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock worth $35,000 after purchasing an additional 916 shares during the period. Institutional investors own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

ALKT has been the topic of a number of research reports. Citizens Jmp lowered 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. Barclays lowered their price target on shares of Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating on the stock in a report on Thursday, February 26th. Needham & Company LLC lowered their target price on shares of Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of Alkami Technology from $38.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Alkami Technology in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $22.80.

Alkami Technology Trading Up 0.5%

Shares of ALKT stock opened at $16.84 on Thursday. The company's fifty day simple moving average is $16.78 and its two-hundred day simple moving average is $18.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.30 and a quick ratio of 2.30. Alkami Technology, Inc. has a 1 year low of $14.11 and a 1 year high of $31.18. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -35.83 and a beta of 0.54.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The business 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 EPS. The company's revenue was up 28.9% compared to the same quarter last year. As a group, analysts anticipate that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Alkami Technology

In other news, Director Joseph P. Payne purchased 5,500 shares of Alkami Technology stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $18.23 per share, for a total transaction of $100,265.00. Following the transaction, the director directly owned 26,628 shares of the company's stock, valued at approximately $485,428.44. This trade represents a 26.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Atlantic L.P. General purchased 900,000 shares of Alkami Technology stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average price of $18.41 per share, with a total value of $16,569,000.00. Following the completion of the transaction, the director directly owned 14,879,451 shares in the company, valued at approximately $273,930,692.91. This represents a 6.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 7,393,058 shares of company stock valued at $127,424,086 and have sold 13,739 shares valued at $232,189. Insiders own 17.10% 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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