Alkami Technology, Inc. $ALKT Shares Bought by General Atlantic L.P.

Key Points

• General Atlantic L.P. increased its stake in Alkami by 24.3% to 11,991,480 shares (11.42% ownership), making Alkami 8.9% of GA’s portfolio and its fifth-largest holding.
• A company director (Atlantic L.P. General) purchased 900,000 shares on March 11 at about $18.41 each (~$16.57M), raising their holding to 14,879,451 shares, and insiders were net buyers of 2,851,515 shares last quarter.
• Analysts have trimmed price targets recently and MarketBeat shows a consensus Hold with an average target of $26.67; the stock trades near $18 with a $1.91 billion market cap and a negative P/E (-39.13).

General Atlantic L.P. increased its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 24.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,991,480 shares of the company's stock after buying an additional 2,346,162 shares during the period. Alkami Technology accounts for 8.9% of General Atlantic L.P.'s portfolio, making the stock its 5th largest holding. General Atlantic L.P. owned 11.42% of Alkami Technology worth $297,868,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Westfield Capital Management Co. LP lifted its holdings in Alkami Technology by 160.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company's stock worth $76,881,000 after purchasing an additional 1,904,474 shares during the last quarter. Chicago Capital LLC acquired a new position in shares of Alkami Technology during the third quarter valued at about $33,665,000. Bamco Inc. NY raised its holdings in Alkami Technology by 80.6% in the 2nd quarter. Bamco Inc. NY now owns 1,330,484 shares of the company's stock valued at $40,101,000 after acquiring an additional 593,659 shares in the last quarter. Algebris UK Ltd. acquired a new position in shares of Alkami Technology in the third quarter valued at $12,728,000. Finally, Champlain Investment Partners LLC lifted its holdings in shares of Alkami Technology by 18.6% during the 2nd quarter. Champlain Investment Partners LLC now owns 3,064,695 shares of the company's stock worth $92,370,000 after acquiring an additional 481,642 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT opened at $18.00 on Friday. Alkami Technology, Inc. has a one year low of $14.11 and a one year high of $31.66. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -39.13 and a beta of 0.57. The stock's fifty day moving average price is $18.78 and its two-hundred day moving average price is $21.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09.

Insider Activity

In other Alkami Technology news, Director Atlantic L.P. General purchased 900,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $18.41 per share, with a total value of $16,569,000.00. Following the acquisition, the director owned 14,879,451 shares of the company's stock, valued at approximately $273,930,692.91. This represents a 6.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 5,518 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total transaction of $93,254.20. Following the completion of the transaction, the insider directly owned 216,233 shares of the company's stock, valued at approximately $3,654,337.70. The trade was a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 2,851,515 shares of company stock worth $50,664,413 and have sold 13,739 shares worth $232,189. Corporate insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of recent analyst reports. Needham & Company LLC reduced their price target on shares of Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Barclays cut their price target on Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating on the stock in a research note 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 for the company in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Finally, Citizens Jmp cut their price objective on shares of Alkami Technology from $40.00 to $28.00 and set a "market outperform" rating on the stock in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.67.

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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