Bank of America Corp DE Makes New Investment in Alkami Technology, Inc. $ALKT

Key Points

• Bank of America acquired 1.02 million Alkami shares in the second quarter, valued at approximately $18.5 million and representing about 0.95% of the company. Institutional investors and hedge funds collectively own nearly 55% of ALKT.
• Alkami’s strategic review ended without a transaction, removing a potential buyout catalyst and contributing to an approximately 18% share-price decline. The stock recently traded near $14.18, close to its 12-month low.
• Analyst views remain divided: JPMorgan downgraded Alkami to “underweight” with a $14 target, while Citizens JMP and Needham maintained bullish ratings. The consensus rating is “Hold” with an average price target of $22.

Bank of America Corp DE acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,018,260 shares of the company's stock, valued at approximately $18,451,000. Bank of America Corp DE owned about 0.95% of Alkami Technology as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. North Reef Capital Management LP raised its stake in Alkami Technology by 264.3% during the 1st quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company's stock valued at $119,876,000 after acquiring an additional 5,550,000 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Alkami Technology in the 2nd quarter valued at $46,927,000. Irenic Capital Management LP acquired a new position in Alkami Technology in the 4th quarter valued at $48,596,000. Westfield Capital Management Co. LP increased its stake in Alkami Technology by 33.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company's stock valued at $95,010,000 after buying an additional 1,023,297 shares during the period. Finally, Praesidium Investment Management Company LLC purchased a new position in Alkami Technology during the 2nd quarter worth $12,765,486. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology News Summary

Here are the key news stories impacting Alkami Technology this week:

• Positive Sentiment: Provident Bank launched Alkami’s MANTL Business and Retail Account Opening products across its 135-branch network. The deployment at a $25 billion-plus bank supports Alkami’s customer growth and platform adoption, although the immediate revenue impact was not disclosed. Provident Bank Goes Live with MANTL Business and Retail Account Opening
• Positive Sentiment: Citizens JMP reaffirmed its “market outperform” rating and set a $24 price target, implying substantial upside from recent trading levels. However, this bullish view contrasts with a more cautious rating from JPMorgan. Alkami Stock Hits Three-Year Lows: Jana Doesn't Get Buyout Wish
• Neutral Sentiment: Alkami maintained fiscal 2026 revenue guidance of $528 million to $531 million, broadly in line with the $529.9 million analyst consensus. The update does not point to a material change in near-term operating expectations.
• Neutral Sentiment: Reported short-interest data listed zero shares short and a zero-day short-interest ratio, making the figures uninformative as a signal of investor positioning.
• Negative Sentiment: The conclusion of the strategic review without a transaction removed a major potential catalyst and triggered an approximately 18% share decline. Alkami said it will remain independent, leaving investors focused on execution rather than a near-term buyout. Alkami Announces Conclusion of Strategic Opportunities Review
• Negative Sentiment: JPMorgan reaffirmed its “underweight” rating and cut its price target to $14 from $24, signaling reduced confidence in Alkami’s standalone outlook and adding pressure to the stock.

Analyst Upgrades and Downgrades

ALKT has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of Alkami Technology from an "overweight" rating to an "underweight" rating and reduced their target price for the stock from $24.00 to $14.00 in a research note on Thursday. Citigroup reissued a "market outperform" rating on shares of Alkami Technology in a report on Thursday. Weiss Ratings reiterated a "sell (e+)" rating on shares of Alkami Technology in a research report on Wednesday, September 2nd. Needham & Company LLC increased their price target on shares of Alkami Technology from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 24th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $24.00 price objective on shares of Alkami Technology in a research note on Thursday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $22.00.

Alkami Technology Stock Down 2.9%

ALKT stock opened at $14.18 on Friday. Alkami Technology, Inc. has a twelve month low of $13.76 and a twelve month high of $25.96. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.52 billion, a P/E ratio of -33.76 and a beta of 0.61. The firm has a 50 day simple moving average of $19.01 and a 200-day simple moving average of $17.56.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $129.84 million during the quarter, compared to the consensus estimate of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share. On average, equities research analysts predict that Alkami Technology, Inc. will post 0.15 earnings per share for the current fiscal year.

About Alkami Technology

Alkami Technology, Inc provides cloud-based digital banking solutions for financial institutions in the United States. Its platform is designed primarily for community, regional and other banks and credit unions seeking to deliver online and mobile banking experiences to consumers and businesses.

The company's products and services include digital account access, account opening, money movement and payments, card management, financial wellness tools, data and analytics, marketing and customer engagement capabilities, and solutions for commercial banking.

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