GSA Capital Partners LLP acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 43,444 shares of the company’s stock, valued at approximately $787,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi lifted its stake in shares of Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. increased its position in Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after acquiring an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alkami Technology by 19.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock valued at $947,000 after acquiring an additional 5,884 shares during the period. Millennium Management LLC raised its stake in shares of Alkami Technology by 64.7% during the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock valued at $18,340,000 after acquiring an additional 274,439 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Alkami Technology by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock valued at $18,920,000 after acquiring an additional 71,949 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.
Analyst Ratings Changes
Several analysts recently weighed in on ALKT shares. JPMorgan Chase & Co. reduced their price objective on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Finally, Citizens Jmp reduced their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Three 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.20.
Alkami Technology Price Performance
Shares of NASDAQ ALKT opened at $20.14 on Wednesday. The company has a market capitalization of $2.15 billion, a PE ratio of -47.95 and a beta of 0.58. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.98. Alkami Technology, Inc. has a twelve month low of $13.98 and a twelve month high of $26.89. The firm has a fifty day simple moving average of $17.63 and a 200 day simple moving average of $17.16.
Alkami Technology (NASDAQ:ALKT – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.23). Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The firm had revenue of $129.84 million for the quarter, compared to the consensus estimate of $128.70 million. During the same period last year, the company posted ($0.13) EPS. The business’s revenue was up 15.8% compared to the same quarter last year. On average, sell-side analysts forecast that Alkami Technology, Inc. will post 0.14 EPS for the current year.
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.
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