Bluefin Capital Management LLC Invests $2.68 Million in Alkami Technology, Inc. $ALKT

Key Points

• Bluefin Capital Management initiated a $2.68 million position in Alkami Technology, buying 147,743 shares—about 0.14% of the company. Institutional investors collectively own 54.97% of Alkami’s stock.
• Alkami reported quarterly revenue of $129.84 million, up 15.8% year over year and slightly above estimates, but earnings of a loss of $0.08 per share missed the consensus estimate of $0.15.
• Analyst sentiment remains mixed, with three Buy, three Hold and one Sell rating; the stock carries a consensus Hold rating and a $23.80 target price, compared with a recent price of $20.22.

Bluefin Capital Management LLC bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 147,743 shares of the company's stock, valued at approximately $2,677,000. Alkami Technology makes up approximately 0.7% of Bluefin Capital Management LLC's investment portfolio, making the stock its 23rd biggest position. Bluefin Capital Management LLC owned approximately 0.14% of Alkami Technology at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Amundi boosted its holdings in shares of Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company's stock worth $731,000 after acquiring an additional 548 shares in the last quarter. Advisors Asset Management Inc. raised its position in Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock valued at $64,000 after purchasing an additional 594 shares during the last quarter. Legal & General Group Plc boosted its stake in Alkami Technology by 0.8% in the third quarter. Legal & General Group Plc now owns 85,071 shares of the company's stock worth $2,113,000 after purchasing an additional 691 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Alkami Technology by 91.7% in 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 in the last quarter. Finally, Summit Securities Group LLC grew its holdings in shares of Alkami Technology by 84.2% during the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock worth $29,000 after purchasing an additional 842 shares during the last quarter. Institutional investors own 54.97% of the company's stock.

Alkami Technology Trading Down 0.6%

ALKT opened at $20.22 on Friday. The stock has a market capitalization of $2.16 billion, a P/E ratio of -48.14 and a beta of 0.58. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.98. Alkami Technology, Inc. has a 12 month low of $13.98 and a 12 month high of $26.89. The firm's fifty day simple moving average is $18.45 and its 200 day simple moving average is $17.25.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly 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 business had revenue of $129.84 million for the quarter, compared to the consensus estimate of $128.70 million. During the same period in the prior year, the business earned ($0.13) earnings per share. Alkami Technology's revenue was up 15.8% compared to the same quarter last year. As a group, research analysts anticipate that Alkami Technology, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALKT shares. Needham & Company LLC increased their price objective on shares of Alkami Technology from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, August 24th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. lifted their target price 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 investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $23.80.

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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