Driehaus Capital Management LLC Raises Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Driehaus Capital Management LLC grew its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 56.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,091,276 shares of the company’s stock after purchasing an additional 392,483 shares during the quarter. Driehaus Capital Management LLC owned approximately 1.12% of Alkami Technology worth $31,080,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. NBC Securities Inc. lifted its stake in shares of Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after purchasing an additional 1,102 shares during the period. Perkins Coie Trust Co purchased a new position in shares of Alkami Technology during the 2nd quarter worth $85,000. nVerses Capital LLC purchased a new position in shares of Alkami Technology during the 2nd quarter worth $88,000. Acadian Asset Management LLC purchased a new position in shares of Alkami Technology during the 1st quarter worth $140,000. Finally, ProVise Management Group LLC purchased a new position in shares of Alkami Technology during the 2nd quarter worth $209,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ALKT shares. The Goldman Sachs Group increased their target price on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JMP Securities increased their target price on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 1st. Craig Hallum increased their target price on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC increased their target price on Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Barclays increased their target price on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus target price of $33.89.

Insider Activity

In other news, Director Brian R. Smith sold 83,333 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the completion of the sale, the director now directly owns 784,549 shares in the company, valued at $24,454,392.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the transaction, the director now directly owns 784,549 shares in the company, valued at $24,454,392.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the completion of the transaction, the insider now owns 388,181 shares of the company’s stock, valued at $12,262,637.79. The disclosure for this sale can be found here. Insiders sold 3,648,416 shares of company stock worth $113,920,758 over the last ninety days. Corporate insiders own 38.00% of the company’s stock.

Alkami Technology Stock Up 1.6 %

Shares of NASDAQ ALKT opened at $31.17 on Friday. Alkami Technology, Inc. has a 12-month low of $16.49 and a 12-month high of $36.00. The company has a market cap of $3.09 billion, a P/E ratio of -51.95 and a beta of 0.47. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $31.75 and a 200 day moving average price of $28.26.

Alkami Technology (NASDAQ:ALKT) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The company’s revenue was up 24.9% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. Research analysts anticipate that Alkami Technology, Inc. will post -0.36 EPS for the current fiscal year.

About Alkami Technology

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.