Alkami Technology, Inc. $ALKT Stake Lifted by Bamco Inc. NY

Key Points

• Bamco Inc. NY increased its stake in Alkami Technology by 24.6% in the fourth quarter, buying 588,033 additional shares to bring its total to 2.98 million shares worth about $68.8 million.
• Other institutional investors also added positions, and institutions now own 54.97% of Alkami’s stock. Insider buying was notable as well, including a director purchase of 675,000 shares in May.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $22.80. Alkami also reported a smaller-than-expected quarterly loss, but shares were down about 3% and were trading near $15.09.

Bamco Inc. NY lifted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 24.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,983,065 shares of the company's stock after acquiring an additional 588,033 shares during the quarter. Bamco Inc. NY owned about 2.84% of Alkami Technology worth $68,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALKT. EverSource Wealth Advisors LLC boosted its stake in Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock valued at $35,000 after purchasing an additional 916 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock worth $34,000 after buying an additional 692 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth $37,000. CWM LLC lifted its holdings 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 buying an additional 959 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in Alkami Technology during the fourth quarter valued at about $48,000. Institutional investors own 54.97% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALKT. Needham & Company LLC lowered their target price on Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Weiss Ratings restated a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Citizens Jmp lowered their price objective on shares of Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped 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, Barclays dropped their target price 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. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $22.80.

Alkami Technology Stock Down 3.0%

NASDAQ ALKT opened at $15.09 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.30 and a quick ratio of 2.30. The company's 50 day simple moving average is $16.60 and its 200 day simple moving average is $18.39. Alkami Technology, Inc. has a 12 month low of $14.11 and a 12 month high of $31.08. The company has a market capitalization of $1.61 billion, a P/E ratio of -32.11 and a beta of 0.58.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The firm's revenue for the quarter was up 28.9% compared to the same quarter last year. Equities research analysts expect that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Alkami Technology

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

About Alkami Technology

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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