Corient Private Wealth LP Buys Shares of 153,686 Alkami Technology, Inc. $ALKT

Key Points

• Corient Private Wealth LP acquired 153,686 Alkami Technology shares worth approximately $2.785 million, while institutional investors and hedge funds collectively own 54.97% of the company.
• Analyst sentiment remains mixed: Alkami has an average “Hold” rating and a $23.80 price target, with Needham and JPMorgan recently raising their targets to $25 and $24, respectively.
• Alkami shares opened at $19.44 after declining 4.7%. The company’s latest quarterly revenue rose 15.8% year over year to $129.84 million, but it reported an $0.08 loss per share, missing analyst expectations.

Corient Private Wealth LP acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 153,686 shares of the company's stock, valued at approximately $2,785,000. Corient Private Wealth LP owned approximately 0.14% of Alkami Technology at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. North Reef Capital Management LP increased its holdings in Alkami Technology by 264.3% in the 1st quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company's stock worth $119,876,000 after purchasing an additional 5,550,000 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Alkami Technology in the second quarter worth $46,927,000. Irenic Capital Management LP bought a new position in Alkami Technology during the 4th quarter worth $48,596,000. Cadian Capital Management LP bought a new stake in shares of Alkami Technology in the 4th quarter valued at about $26,969,000. Finally, Westfield Capital Management Co. LP raised its position in shares of Alkami Technology by 33.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company's stock worth $95,010,000 after acquiring an additional 1,023,297 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Analysts Set New Price Targets

ALKT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. 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 research report on Monday, August 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alkami Technology from $19.00 to $24.00 and gave the stock an "overweight" rating in a research note on Monday, August 24th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $23.80.

Alkami Technology Stock Down 4.7%

Alkami Technology stock opened at $19.44 on Wednesday. The company has a market capitalization of $2.08 billion, a PE ratio of -46.28 and a beta of 0.61. Alkami Technology, Inc. has a 12-month low of $13.98 and a 12-month high of $26.89. The firm's fifty day moving average is $18.66 and its 200 day moving average is $17.29. 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 (NASDAQ:ALKT - Get Free Report) last posted 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). The company 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 company's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the firm posted ($0.13) earnings per share. As a group, sell-side analysts predict that Alkami Technology, Inc. will post 0.14 EPS for the current fiscal year.

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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