SG Americas Securities LLC Lowers Holdings in Alkami Technology, Inc. $ALKT

Key Points

• SG Americas Securities LLC sharply reduced its Alkami Technology stake by 94.6% in Q1, selling more than 202,000 shares and leaving it with 11,632 shares worth about $182,000.
• Alkami Technology’s stock fell 2.0% to $17.35, and the company now has a market value of about $1.86 billion. Its shares have traded between $13.98 and $30.17 over the past 52 weeks.
• The company’s latest earnings missed expectations, posting a $0.09 loss per share versus analysts’ forecast for a $0.21 profit, though revenue of $126.14 million slightly topped estimates and rose 28.9% year over year.

SG Americas Securities LLC lowered its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 94.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,632 shares of the company's stock after selling 202,347 shares during the period. SG Americas Securities LLC's holdings in Alkami Technology were worth $182,000 at the end of the most recent reporting period.

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

Alkami Technology Stock Down 2.0%

NASDAQ:ALKT traded down $0.36 during trading hours on Friday, hitting $17.35. The company's stock had a trading volume of 1,047,748 shares, compared to its average volume of 2,158,331. Alkami Technology, Inc. has a 52-week low of $13.98 and a 52-week high of $30.17. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $1.86 billion, a P/E ratio of -36.91 and a beta of 0.57. The stock has a fifty day moving average of $16.72 and a 200-day moving average of $17.85.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings results 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). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The business had revenue of $126.14 million for the quarter, compared to analysts' expectations of $125.22 million. During the same period last year, the firm earned $0.08 earnings per share. The firm's quarterly revenue was up 28.9% on a year-over-year basis. On average, equities analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALKT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Citizens Jmp lowered their price objective 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. Finally, 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 note on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of "Hold" and a consensus price target of $22.20.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 675,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the acquisition, the director directly owned 19,420,994 shares of the company's stock, valued at $320,252,191.06. This trade represents a 3.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 4,041,543 shares of company stock worth $67,594,674 in the last three months. 17.10% of the stock is owned by insiders.

Alkami Technology 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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