Algebris UK Ltd. Acquires New Stake in Alkami Technology, Inc. $ALKT

Algebris UK Ltd. purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 512,777 shares of the company’s stock, valued at approximately $12,728,000. Alkami Technology makes up approximately 1.4% of Algebris UK Ltd.’s investment portfolio, making the stock its 29th biggest position. Algebris UK Ltd. owned about 0.49% of Alkami Technology as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alliancebernstein L.P. grew its holdings in Alkami Technology by 13.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,249,114 shares of the company’s stock worth $97,928,000 after acquiring an additional 383,691 shares in the last quarter. Champlain Investment Partners LLC grew its position in Alkami Technology by 18.6% during the 2nd quarter. Champlain Investment Partners LLC now owns 3,064,695 shares of the company’s stock worth $92,370,000 after purchasing an additional 481,642 shares during the last quarter. Riverbridge Partners LLC increased its position in Alkami Technology by 7.2% in the 3rd quarter. Riverbridge Partners LLC now owns 2,250,685 shares of the company’s stock valued at $55,907,000 after acquiring an additional 151,895 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Alkami Technology by 3.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,012,157 shares of the company’s stock worth $60,646,000 after acquiring an additional 60,094 shares during the period. Finally, Geode Capital Management LLC lifted its position in Alkami Technology by 7.3% in the second quarter. Geode Capital Management LLC now owns 1,674,405 shares of the company’s stock valued at $50,473,000 after purchasing an additional 113,524 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Performance

Shares of ALKT opened at $20.65 on Monday. Alkami Technology, Inc. has a 12-month low of $18.71 and a 12-month high of $36.96. The business’s fifty day moving average price is $21.80 and its 200 day moving average price is $23.26. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.17 and a quick ratio of 2.17. The stock has a market capitalization of $2.17 billion, a PE ratio of -48.02 and a beta of 0.53.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings data on Thursday, October 30th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.29). The business had revenue of $112.95 million for the quarter, compared to analyst estimates of $113.48 million. Alkami Technology had a negative return on equity of 5.73% and a negative net margin of 10.63%.Alkami Technology’s revenue was up 31.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS. Equities research analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALKT. Zacks Research cut Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC decreased their price target on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Citizens Jmp lowered their price objective on shares of Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday, October 31st. Barclays dropped their target price on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider owned 221,751 shares of the company’s stock, valued at approximately $4,510,415.34. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 18.10% of the company’s stock.

Alkami Technology Company Profile

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.