Lavelle Capital LP acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 48,658 shares of the company’s stock, valued at approximately $762,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. North Reef Capital Management LP raised its holdings in shares of Alkami Technology by 264.3% during the first quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company’s stock worth $119,876,000 after purchasing an additional 5,550,000 shares during the period. Irenic Capital Management LP acquired a new position in shares of Alkami Technology in the 4th quarter valued at about $48,596,000. Cadian Capital Management LP acquired a new position in shares of Alkami Technology in the 4th quarter valued at about $26,969,000. Westfield Capital Management Co. LP grew its position in shares of Alkami Technology by 33.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after buying an additional 1,023,297 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Alkami Technology by 40.3% during the fourth quarter. Janus Henderson Group PLC now owns 3,208,436 shares of the company’s stock worth $74,019,000 after acquiring an additional 921,055 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.
Insider Activity at Alkami Technology
In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 675,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the acquisition, the director owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. This represents a 3.60% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 4,041,543 shares of company stock valued at $67,594,674 in the last quarter. 17.10% of the stock is currently owned by company insiders.
Alkami Technology Stock Up 2.0%
Alkami Technology (NASDAQ:ALKT – Get Free Report) last issued 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). The firm had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.69%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. As a group, equities analysts expect that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have commented on ALKT. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. JPMorgan Chase & Co. dropped their price target on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, June 22nd. Finally, Citizens Jmp cut their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Three equities research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.20.
Check Out Our Latest Stock Report on ALKT
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.
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