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

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the transaction, the director now directly owns 17,186,985 shares of the company’s stock, valued at $455,970,712.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alkami Technology Stock Performance

ALKT stock opened at $26.08 on Friday. Alkami Technology, Inc. has a one year low of $12.73 and a one year high of $27.94. The firm’s 50 day moving average price is $24.28 and its 200-day moving average price is $23.71. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The business had revenue of $76.10 million during the quarter, compared to analysts’ expectations of $75.57 million. During the same period in the prior year, the business posted ($0.16) EPS. The company’s revenue was up 26.8% compared to the same quarter last year. As a group, equities research analysts forecast that Alkami Technology, Inc. will post -0.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ALKT shares. Needham & Company LLC raised their target price on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. William Blair reaffirmed an “outperform” rating on shares of Alkami Technology in a research note on Thursday, February 29th. Barclays lifted their price target on shares of Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $27.00 in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and an average target price of $26.90.

Institutional Trading of Alkami Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC boosted its position in shares of Alkami Technology by 31.7% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the period. Swiss National Bank boosted its holdings in Alkami Technology by 1.1% during the 3rd quarter. Swiss National Bank now owns 91,900 shares of the company’s stock valued at $1,674,000 after acquiring an additional 1,000 shares during the period. NBC Securities Inc. grew its position in Alkami Technology by 61.6% in the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after acquiring an additional 1,102 shares in the last quarter. Penbrook Management LLC lifted its position in shares of Alkami Technology by 2.3% during the fourth quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock worth $1,502,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 valued at $322,000 after purchasing an additional 1,494 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.