Westfield Capital Management Co. LP Increases Holdings in Alkami Technology, Inc. $ALKT

Key Points

• Westfield Capital Management raised its stake in Alkami Technology by 33.1% in the fourth quarter, ending with 4.12 million shares worth about $95 million.
• Insider buying was heavy, including a large purchase by director Atlantic Genpar and additional buying by director Joseph P. Payne; insiders now own 17.1% of the company.
• Alkami shares fell 2.6% to $16.18 after the company reported a quarterly EPS loss that missed estimates, though revenue came in slightly above expectations and was up 28.9% year over year.

Westfield Capital Management Co. LP increased its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 33.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,118,355 shares of the company's stock after purchasing an additional 1,023,297 shares during the quarter. Westfield Capital Management Co. LP owned about 3.92% of Alkami Technology worth $95,010,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALKT. General Atlantic L.P. boosted its stake in Alkami Technology by 24.3% during the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company's stock valued at $297,868,000 after buying an additional 2,346,162 shares during the period. JANA Partners Management LP bought a new stake in Alkami Technology during the third quarter valued at $47,008,000. Long Path Partners LP boosted its stake in Alkami Technology by 138.2% during the third quarter. Long Path Partners LP now owns 2,568,823 shares of the company's stock valued at $63,810,000 after buying an additional 1,490,357 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in Alkami Technology by 56.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company's stock valued at $96,202,000 after buying an additional 1,394,617 shares during the period. Finally, Bamco Inc. NY boosted its stake in Alkami Technology by 80.0% during the third quarter. Bamco Inc. NY now owns 2,395,032 shares of the company's stock valued at $59,493,000 after buying an additional 1,064,548 shares during the period. Institutional investors own 54.97% of the company's stock.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General bought 675,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the purchase, the director owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. The trade was a 3.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph P. Payne bought 5,500 shares of the stock in a transaction dated Wednesday, March 11th. The stock was bought at an average cost of $18.23 per share, with a total value of $100,265.00. Following the purchase, the director owned 26,628 shares in the company, valued at $485,428.44. The trade was a 26.03% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 7,393,058 shares of company stock valued at $127,424,086. Insiders own 17.10% of the company's stock.

Alkami Technology Trading Down 2.6%

Shares of ALKT stock opened at $16.18 on Friday. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.18. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $16.73 and a two-hundred day moving average price of $18.75. The firm has a market cap of $1.73 billion, a P/E ratio of -34.43 and a beta of 0.58.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citizens Jmp dropped their price objective on 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. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $38.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, February 18th. Needham & Company LLC dropped their price objective on Alkami Technology from $32.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Finally, Barclays dropped their price target on Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating for the company in a research note on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Alkami Technology presently has a consensus rating of "Hold" and an average target price of $22.80.

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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