Alkami Technology, Inc. $ALKT is North Reef Capital Management LP's 7th Largest Position

Key Points

• North Reef Capital Management increased its stake in Alkami Technology by 264.3% in the first quarter, making ALKT its 7th largest position and about 4.1% of its portfolio.
• Institutional interest remains high, with several other investors also boosting positions and institutions now owning 54.97% of the company’s shares.
• Alkami’s latest earnings were mixed: revenue rose 28.9% year over year to $126.14 million, but EPS came in below expectations at -$0.09 versus a projected $0.21.

North Reef Capital Management LP raised its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 264.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,650,000 shares of the company's stock after acquiring an additional 5,550,000 shares during the quarter. Alkami Technology comprises approximately 4.1% of North Reef Capital Management LP's holdings, making the stock its 7th largest position. North Reef Capital Management LP owned about 7.15% of Alkami Technology worth $119,876,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ALKT. EverSource Wealth Advisors LLC lifted its holdings in 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 last quarter. Smartleaf Asset Management LLC boosted its position in Alkami Technology by 91.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock worth $34,000 after purchasing an additional 692 shares during the period. Global Retirement Partners LLC acquired a new position in Alkami Technology during the fourth quarter valued at approximately $37,000. Summit Securities Group LLC raised its position in shares of Alkami Technology by 84.2% in the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock valued at $29,000 after purchasing an additional 842 shares during the period. Finally, CWM LLC raised its position in shares of Alkami Technology by 97.6% in the fourth quarter. CWM LLC now owns 1,942 shares of the company's stock valued at $45,000 after purchasing an additional 959 shares during the period. Institutional investors own 54.97% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ALKT. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alkami Technology in a report on Friday, June 5th. Citizens Jmp dropped their target price 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Alkami Technology from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, June 22nd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $22.20.

Insiders Place Their Bets

In related news, Director Atlantic Genpar (Bermu General bought 675,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the acquisition, the director owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. This represents a 3.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 4,041,543 shares of company stock worth $67,594,674 over the last 90 days. 17.10% of the stock is currently owned by insiders.

Alkami Technology Stock Up 3.1%

Shares of ALKT stock opened at $16.79 on Friday. Alkami Technology, Inc. has a 12 month low of $13.98 and a 12 month high of $28.53. The firm has a market cap of $1.80 billion, a PE ratio of -35.72 and a beta of 0.57. The stock has a 50 day moving average of $16.82 and a 200-day moving average of $17.45. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company had revenue of $126.14 million during the quarter, compared to analyst estimates of $125.22 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company's revenue was up 28.9% on a year-over-year basis. On average, equities analysts predict that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Alkami Technology 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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