Atlantic Genpar (Bermu General Sells 1,542,821 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the transaction, the director now owns 17,186,985 shares of the company's stock, valued at approximately $455,970,712.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alkami Technology Trading Down 0.8 %

Shares of NASDAQ ALKT traded down $0.20 during trading hours on Thursday, reaching $26.37. The stock had a trading volume of 419,273 shares, compared to its average volume of 335,390. The business's fifty day moving average price is $24.23 and its two-hundred day moving average price is $23.63. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -44.28 and a beta of 0.40. Alkami Technology, Inc. has a 52-week low of $12.53 and a 52-week high of $27.94. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $76.10 million for the quarter, compared to analysts' expectations of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The firm's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.16) EPS. Analysts expect that Alkami Technology, Inc. will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALKT. SG Americas Securities LLC purchased a new position in Alkami Technology in the third quarter valued at about $110,000. Bank of New York Mellon Corp raised its stake in shares of Alkami Technology by 12.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 125,923 shares of the company's stock worth $2,294,000 after acquiring an additional 14,245 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Alkami Technology by 26.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,161 shares of the company's stock valued at $167,000 after acquiring an additional 1,915 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Alkami Technology by 9.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company's stock worth $322,000 after purchasing an additional 1,494 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Alkami Technology during the third quarter worth $2,217,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALKT. The Goldman Sachs Group cut shares of Alkami Technology from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. Barclays upped their price objective on Alkami Technology from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Thursday, February 29th. TheStreet upgraded Alkami Technology from a "d" rating to a "c-" rating in a research note on Thursday, February 29th. JMP Securities reissued a "market outperform" rating and issued a $30.00 price objective on shares of Alkami Technology in a report on Monday, April 15th. Finally, William Blair reaffirmed an "outperform" rating on shares of Alkami Technology in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology currently has a consensus rating of "Moderate Buy" and an average target price of $26.90.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.