Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Purchases 750,000 Shares of Stock

Key Points

• Alkami Technology director Atlantic Genpar (Bermu General) bought 750,000 shares on May 12 at an average price of $16.87, a transaction worth about $12.65 million. After the purchase, the director’s stake rose to 18,195,994 shares.
• The insider has been actively buying ALKT shares over several days, including additional purchases of 675,000 shares, 550,000 shares, 844,772 shares, 700,000 shares, 521,771 shares, and 500,000 shares in recent weeks.
• Alkami Technology recently reported a quarterly earnings miss, posting -$0.09 EPS versus expectations of $0.21, though revenue came in slightly ahead at $126.14 million and was up 28.9% year over year.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General acquired 750,000 shares of Alkami Technology stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $16.87 per share, with a total value of $12,652,500.00. Following the purchase, the director owned 18,195,994 shares of the company's stock, valued at $306,966,418.78. This represents a 4.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, May 14th, Atlantic Genpar (Bermu General acquired 675,000 shares of Alkami Technology stock. The shares were purchased at an average cost of $16.49 per share, with a total value of $11,130,750.00.
• On Wednesday, May 13th, Atlantic Genpar (Bermu General acquired 550,000 shares of Alkami Technology stock. The shares were purchased at an average cost of $16.63 per share, with a total value of $9,146,500.00.
• On Wednesday, May 6th, Atlantic Genpar (Bermu General bought 844,772 shares of Alkami Technology stock. The shares were bought at an average price of $16.63 per share, with a total value of $14,048,558.36.
• On Tuesday, May 5th, Atlantic Genpar (Bermu General bought 700,000 shares of Alkami Technology stock. The shares were bought at an average price of $16.84 per share, with a total value of $11,788,000.00.
• On Monday, May 4th, Atlantic Genpar (Bermu General bought 521,771 shares of Alkami Technology stock. The shares were bought 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 bought 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

Alkami Technology stock traded up $0.05 during mid-day trading on Thursday, hitting $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 one year low of $14.11 and a one year high of $31.18. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -35.36 and a beta of 0.54. 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 has a fifty day moving average price of $16.79 and a 200-day moving average price of $19.13.

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 company had revenue of $126.14 million for the quarter, compared to analysts' expectations of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The firm's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, equities analysts predict that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC lifted its stake in Alkami Technology by 54.5% during the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company's stock valued at $38,000 after acquiring an additional 544 shares during the period. Amundi lifted its stake in shares of Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company's stock worth $731,000 after purchasing an additional 548 shares during the period. Advisors Asset Management Inc. lifted its stake 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 worth $64,000 after purchasing an additional 594 shares during the period. Legal & General Group Plc lifted its stake in shares of Alkami Technology by 0.8% in 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 period. Finally, Smartleaf Asset Management LLC lifted its stake 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 worth $34,000 after purchasing an additional 692 shares during the period. Institutional investors own 54.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALKT shares. Barclays reduced their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. reduced their target price 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. Needham & Company LLC reduced their target price on shares of Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Finally, Citizens Jmp reduced their target price on shares of Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 30th. Three 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 MarketBeat.com, Alkami Technology presently has an average rating of "Hold" and a consensus target price of $22.80.

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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