SG Americas Securities LLC Buys 188,357 Shares of Alkami Technology, Inc. $ALKT

SG Americas Securities LLC grew its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 735.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,979 shares of the company’s stock after buying an additional 188,357 shares during the quarter. SG Americas Securities LLC owned 0.20% of Alkami Technology worth $4,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. General Atlantic L.P. lifted its position in Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after acquiring an additional 2,346,162 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Alkami Technology by 56.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after purchasing an additional 1,394,617 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Alkami Technology by 13.3% in the 3rd quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock valued at $91,405,000 after purchasing an additional 430,632 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Alkami Technology by 160.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after purchasing an additional 1,904,474 shares during the period. Finally, Long Path Partners LP lifted its holdings in shares of Alkami Technology by 138.2% in the third quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock valued at $63,810,000 after purchasing an additional 1,490,357 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Price Performance

NASDAQ:ALKT opened at $16.01 on Thursday. Alkami Technology, Inc. has a 52-week low of $14.11 and a 52-week high of $31.66. The company has a market cap of $1.70 billion, a P/E ratio of -34.80 and a beta of 0.57. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.09. The stock’s 50-day simple moving average is $17.46 and its 200 day simple moving average is $20.70.

Insider Transactions at Alkami Technology

In other news, CFO Cassandra Hudson sold 6,869 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total value of $116,086.10. Following the completion of the sale, the chief financial officer owned 286,757 shares of the company’s stock, valued at approximately $4,846,193.30. This represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Atlantic Genpar (Bermu General bought 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $18.33 per share, with a total value of $9,165,000.00. Following the completion of the purchase, the director directly owned 15,379,451 shares of the company’s stock, valued at $281,905,336.83. This represents a 3.36% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 3,351,515 shares of company stock valued at $59,829,413 and sold 13,739 shares valued at $232,189. 18.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ALKT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. JPMorgan Chase & Co. cut their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Citizens Jmp decreased their price target on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a research note on Thursday, February 26th. Barclays lowered 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 report on Thursday, February 26th. Finally, Needham & Company LLC cut their price objective 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. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Hold” and a consensus target price of $26.67.

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.