Alkami Technology, Inc. $ALKT Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Alkami Technology stake by 87.6% in the second quarter, acquiring 113,390 additional shares and bringing its holdings to 242,763 shares valued at approximately $4.4 million.
• Institutional investors and hedge funds own about 54.97% of ALKT, with several major funds—including Janus Henderson, Praesidium Investment Management, and Bank of America—also raising their positions.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $23.80. Alkami reported quarterly revenue of $129.84 million, up 15.8% year over year, but missed earnings expectations with a loss of $0.08 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 87.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,763 shares of the company's stock after purchasing an additional 113,390 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.23% of Alkami Technology worth $4,399,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Alkami Technology by 5.7% in the 1st quarter. Bank of America Corp DE now owns 1,132,794 shares of the company's stock worth $17,751,000 after acquiring an additional 61,501 shares during the period. Irenic Capital Management LP purchased a new stake in shares of Alkami Technology in the fourth quarter valued at about $48,596,000. Praesidium Investment Management Company LLC increased its stake in shares of Alkami Technology by 13.4% during the fourth quarter. Praesidium Investment Management Company LLC now owns 2,287,096 shares of the company's stock worth $52,763,000 after acquiring an additional 269,524 shares during the period. Janus Henderson Group PLC raised its holdings in Alkami Technology by 20.2% during the first quarter. Janus Henderson Group PLC now owns 3,855,334 shares of the company's stock worth $60,413,000 after purchasing an additional 646,898 shares in the last quarter. Finally, Rice Hall James & Associates LLC purchased a new position in Alkami Technology during the second quarter worth about $2,205,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALKT. Needham & Company LLC boosted their target price on Alkami Technology from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. Weiss Ratings reissued a "sell (e+)" rating on shares of Alkami Technology in a research note on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Alkami Technology from $19.00 to $24.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alkami Technology has an average rating of "Hold" and a consensus price target of $23.80.

Alkami Technology Stock Down 3.8%

Shares of NASDAQ ALKT opened at $18.65 on Thursday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.98. Alkami Technology, Inc. has a 52 week low of $13.98 and a 52 week high of $26.89. The firm has a 50-day moving average price of $18.96 and a 200 day moving average price of $17.42. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -44.40 and a beta of 0.61.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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 company 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 posted ($0.13) earnings per share. The company's quarterly revenue was up 15.8% compared to the same quarter last year. Equities research analysts anticipate that Alkami Technology, Inc. will post 0.14 EPS for the current fiscal year.

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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