Bessemer Group Inc. Has $266,000 Position in Alkami Technology, Inc. $ALKT

Bessemer Group Inc. reduced its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 68.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,950 shares of the company’s stock after selling 36,460 shares during the period. Bessemer Group Inc.’s holdings in Alkami Technology were worth $266,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Alkami Technology by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 431,007 shares of the company’s stock valued at $6,754,000 after purchasing an additional 10,296 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Alkami Technology by 456.7% in the first quarter. Fifth Third Bancorp now owns 6,190 shares of the company’s stock worth $97,000 after acquiring an additional 5,078 shares during the last quarter. Summit Securities Group LLC lifted its stake in Alkami Technology by 84.2% in the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after purchasing an additional 842 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of Alkami Technology by 26.3% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 149,610 shares of the company’s stock valued at $2,344,000 after acquiring an additional 31,135 shares in the last quarter. Finally, West Tower Group LLC acquired a new stake in shares of Alkami Technology during the first quarter valued at about $188,000. 54.97% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Atlantic Genpar (Bermu General bought 675,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the acquisition, the director owned 19,420,994 shares of the company’s stock, valued at approximately $320,252,191.06. The trade was a 3.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought 4,041,543 shares of company stock valued at $67,594,674 over the last quarter. Corporate insiders own 17.10% of the company’s stock.

Alkami Technology Price Performance

Alkami Technology stock opened at $16.79 on Monday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -35.72 and a beta of 0.57. Alkami Technology, Inc. has a 12 month low of $13.98 and a 12 month high of $28.53. The business’s 50 day simple moving average is $16.82 and its 200 day simple moving average is $17.41.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The firm had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. During the same period last year, the business posted $0.08 EPS. The company’s revenue was up 28.9% compared to the same quarter last year. Sell-side analysts forecast that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALKT. JPMorgan Chase & Co. decreased their price target on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Finally, Citizens Jmp dropped their price objective on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.20.

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.