Roubaix Capital LLC Makes New $2.52 Million Investment in Alkami Technology, Inc. $ALKT

Key Points

• Roubaix Capital LLC opened a new position in Alkami Technology, buying 161,101 shares worth about $2.52 million in the first quarter.
• Alkami Technology reported mixed quarterly results: revenue came in slightly above estimates at $126.14 million and rose 28.9% year over year, but EPS of -$0.09 missed expectations of $0.21.
• Sentiment remains cautious but active: a large insider purchase was disclosed, while analysts currently rate the stock Hold on average with a consensus price target of $22.20.

Roubaix Capital LLC acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 161,101 shares of the company's stock, valued at approximately $2,524,000. Roubaix Capital LLC owned approximately 0.15% of Alkami Technology at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Alkami Technology by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 431,007 shares of the company's stock worth $6,754,000 after acquiring an additional 10,296 shares during the last quarter. Fifth Third Bancorp boosted its stake in Alkami Technology by 456.7% during the 1st quarter. Fifth Third Bancorp now owns 6,190 shares of the company's stock valued at $97,000 after purchasing an additional 5,078 shares during the last quarter. Summit Securities Group LLC boosted its stake in Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company's stock valued at $29,000 after purchasing an additional 842 shares during the last quarter. Taylor Frigon Capital Management LLC increased its holdings in Alkami Technology by 26.3% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 149,610 shares of the company's stock worth $2,344,000 after purchasing an additional 31,135 shares in the last quarter. Finally, West Tower Group LLC bought a new stake in Alkami Technology during the 1st quarter worth approximately $188,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Stock Down 1.3%

ALKT opened at $17.91 on Friday. Alkami Technology, Inc. has a fifty-two week low of $13.98 and a fifty-two week high of $28.53. The firm has a market capitalization of $1.92 billion, a P/E ratio of -38.11 and a beta of 0.57. The company's 50-day moving average is $16.79 and its 200 day moving average is $17.66. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.30 and a quick ratio of 2.30.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.30). The firm had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company's revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. Research analysts expect that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 844,772 shares of Alkami Technology 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 completion of the acquisition, the director directly owned 17,445,994 shares in the company, valued at approximately $290,126,880.22. The trade was a 5.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders purchased 4,041,543 shares of company stock valued at $67,594,674. 17.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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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