Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Purchases 550,000 Shares of Stock

Key Points

• Alkami Technology director Atlantic Genpar bought 550,000 shares on May 13 at an average price of $16.63, a transaction worth about $9.15 million. The purchase lifted its direct holdings to 18.75 million shares, valued at roughly $311.7 million.
• The filing comes amid a broader pattern of recent insider buying, with Atlantic Genpar making several additional purchases in early and mid-May totaling millions more shares.
• Alkami’s stock was trading around $16.62, near its 50-day average and well below its 200-day average, while the company recently reported revenue growth of 28.9% but missed earnings expectations for the quarter.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General acquired 550,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $16.63 per share, for a total transaction of $9,146,500.00. Following the acquisition, the director directly owned 18,745,994 shares of the company's stock, valued at $311,745,880.22. The trade was a 3.02% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Thursday, May 14th, Atlantic Genpar (Bermu General bought 675,000 shares of Alkami Technology stock. The stock was acquired at an average price of $16.49 per share, with a total value of $11,130,750.00.
• On Tuesday, May 12th, Atlantic Genpar (Bermu General bought 750,000 shares of Alkami Technology stock. The stock was acquired at an average cost of $16.87 per share, with a total value of $12,652,500.00.
• On Wednesday, May 6th, Atlantic Genpar (Bermu General purchased 844,772 shares of Alkami Technology stock. The shares were acquired at an average price of $16.63 per share, for a total transaction of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General bought 700,000 shares of Alkami Technology stock. The shares were purchased at an average cost of $16.84 per share, with a total value of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General purchased 521,771 shares of Alkami Technology stock. The shares were acquired at an average price of $16.92 per share, with a total value of $8,828,365.32.
• On Thursday, March 12th, Atlantic Genpar (Bermu General acquired 500,000 shares of Alkami Technology stock. The shares were bought at an average price of $18.33 per share, with a total value of $9,165,000.00.

Alkami Technology Price Performance

Shares of NASDAQ ALKT traded up $0.05 during midday trading on Thursday, reaching $16.62. 2,815,506 shares of the company traded hands, compared to its average volume of 1,873,479. Alkami Technology, Inc. has a 12 month low of $14.11 and a 12 month high of $31.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30. The stock's 50-day simple moving average is $16.79 and its 200-day simple moving average is $19.13. The firm has a market cap of $1.78 billion, a PE ratio of -35.36 and a beta of 0.54.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. During the same period in the previous year, the company posted $0.08 EPS. The firm's revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, equities analysts anticipate that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALKT has been the topic of several recent analyst reports. Barclays reduced their target price on Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating on the stock in a report on Thursday, February 26th. Needham & Company LLC decreased their price objective on Alkami Technology from $32.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Citizens Jmp reduced 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 report on Thursday, April 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Alkami Technology from $38.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Alkami Technology has a consensus rating of "Hold" and an average target price of $22.80.

Hedge Funds Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaQuest LLC increased its holdings in Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company's stock worth $38,000 after buying an additional 544 shares during the last quarter. Amundi lifted its stake in Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company's stock valued at $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Alkami Technology by 32.4% in the 1st 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 period. Legal & General Group Plc increased its stake in shares of Alkami Technology by 0.8% during the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company's stock worth $2,113,000 after purchasing an additional 691 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock valued at $34,000 after purchasing an additional 692 shares during the period. 54.97% of the stock is owned by institutional investors.

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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