Riverbridge Partners LLC lowered its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT – Free Report) by 61.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 688,980 shares of the company’s stock after selling 1,096,118 shares during the quarter. Riverbridge Partners LLC owned about 0.64% of Alkami Technology worth $10,796,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Amundi lifted its position in Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after purchasing an additional 594 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alkami Technology by 19.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock worth $947,000 after purchasing an additional 5,884 shares during the period. Millennium Management LLC increased its stake in shares of Alkami Technology by 64.7% in the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock worth $18,340,000 after purchasing an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Alkami Technology by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock worth $18,920,000 after purchasing an additional 71,949 shares during the period. 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 business’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $16.49 per share, for a total transaction of $11,130,750.00. Following the completion of the purchase, the director owned 19,420,994 shares of the company’s stock, valued at $320,252,191.06. This trade represents a 3.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased 4,041,543 shares of company stock worth $67,594,674 in the last quarter. Insiders own 17.10% of the company’s stock.
Alkami Technology Stock Up 3.2%
Alkami Technology (NASDAQ:ALKT – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.30). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The firm had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company’s revenue was up 28.9% on a year-over-year basis. On average, research analysts anticipate that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.
Wall Street Analysts Forecast Growth
ALKT has been the subject of several recent analyst reports. Needham & Company LLC decreased their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. 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. Barclays cut their price target on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Finally, Citizens Jmp lowered 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 equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.20.
View Our Latest Stock Report on Alkami Technology
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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