Bullseye Asset Management LLC Increases Stock Holdings in Alkami Technology, Inc. $ALKT

Bullseye Asset Management LLC lifted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,842 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Bullseye Asset Management LLC’s holdings in Alkami Technology were worth $3,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALKT. Praesidium Investment Management Company LLC acquired a new position in Alkami Technology during the first quarter worth approximately $40,223,000. Westfield Capital Management Co. LP acquired a new stake in Alkami Technology during the 2nd quarter worth $35,884,000. Champlain Investment Partners LLC raised its holdings in shares of Alkami Technology by 64.0% in the first quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company’s stock valued at $67,805,000 after buying an additional 1,008,025 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Alkami Technology by 61.6% during the 1st quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company’s stock valued at $51,242,000 after acquiring an additional 743,884 shares during the last quarter. Finally, Long Path Partners LP raised its stake in shares of Alkami Technology by 304.4% during the first quarter. Long Path Partners LP now owns 685,532 shares of the company’s stock worth $17,995,000 after purchasing an additional 516,034 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $21.41 on Tuesday. The stock has a fifty day moving average price of $22.80 and a 200 day moving average price of $25.61. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17. The stock has a market cap of $2.25 billion, a PE ratio of -49.79 and a beta of 0.55. Alkami Technology, Inc. has a 1 year low of $18.71 and a 1 year high of $42.29.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results 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). Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%. The firm had revenue of $112.95 million during the quarter, compared to analyst estimates of $113.48 million. During the same period last year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 31.5% on a year-over-year basis. Alkami Technology has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 20,366 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value of $504,262.16. Following the sale, the chief financial officer directly owned 409,889 shares of the company’s stock, valued at approximately $10,148,851.64. This represents a 4.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Prerna Sachdeva sold 2,967 shares of Alkami Technology stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total transaction of $73,462.92. Following the transaction, the chief accounting officer owned 66,061 shares of the company’s stock, valued at approximately $1,635,670.36. The trade was a 4.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALKT. The Goldman Sachs Group reduced their target price on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Barclays dropped their target price on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Citizens Jmp lowered their price target on shares of Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.00.

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.