JANA Partners Management LP Has $85.11 Million Stock Position in Alkami Technology, Inc. $ALKT

Key Points

• JANA Partners increased its Alkami Technology position by 11% in the first quarter, acquiring 536,723 additional shares to own 5.43 million shares valued at approximately $85.11 million, or 5.08% of the company.
• Institutional investors and hedge funds own 54.97% of Alkami, while insiders own 17.10%; insiders purchased 3.52 million shares worth about $58.8 million over the past three months.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating, resulting in a consensus Hold rating and an average price target of $22.20. ALKT recently traded at $18.17, within a 52-week range of $13.98 to $26.89.

JANA Partners Management LP boosted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,431,388 shares of the company's stock after buying an additional 536,723 shares during the quarter. Alkami Technology makes up approximately 5.1% of JANA Partners Management LP's holdings, making the stock its 7th largest holding. JANA Partners Management LP owned about 5.08% of Alkami Technology worth $85,110,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi raised its position in shares of Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company's stock worth $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock valued at $64,000 after acquiring an additional 594 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alkami Technology by 19.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company's stock worth $947,000 after purchasing an additional 5,884 shares during the period. Millennium Management LLC increased its position in Alkami Technology by 64.7% in the first quarter. Millennium Management LLC now owns 698,677 shares of the company's stock worth $18,340,000 after purchasing an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Alkami Technology by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company's stock worth $18,920,000 after purchasing an additional 71,949 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on ALKT. JPMorgan Chase & Co. cut their target price on shares of Alkami Technology from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Monday, June 22nd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Finally, Citizens Jmp dropped their price target on shares of Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating for the company in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.20.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General purchased 844,772 shares of the stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $16.63 per share, with a total value of $14,048,558.36. Following the purchase, the director directly owned 17,445,994 shares in the company, valued at $290,126,880.22. The trade was a 5.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders bought 3,519,772 shares of company stock worth $58,766,308. 17.10% of the stock is currently owned by insiders.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $18.17 on Monday. 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 1-year low of $13.98 and a 1-year high of $26.89. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -43.26 and a beta of 0.58. The business's 50-day moving average price is $16.94 and its two-hundred day moving average price is $17.25.

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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