Wasatch Advisors LP Buys Shares of 1,513,160 Alkami Technology, Inc. (NASDAQ:ALKT)

Wasatch Advisors LP bought a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the first quarter, Holdings Channel reports. The fund bought 1,513,160 shares of the company’s stock, valued at approximately $37,178,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ALKT. Charles Schwab Investment Management Inc. grew its holdings in shares of Alkami Technology by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 301,329 shares of the company’s stock valued at $5,490,000 after buying an additional 19,324 shares during the last quarter. FMR LLC grew its holdings in shares of Alkami Technology by 1.8% during the third quarter. FMR LLC now owns 1,182,327 shares of the company’s stock valued at $21,542,000 after buying an additional 21,086 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Alkami Technology during the third quarter valued at approximately $214,000. Bullseye Asset Management LLC boosted its holdings in Alkami Technology by 80.4% in the third quarter. Bullseye Asset Management LLC now owns 64,988 shares of the company’s stock worth $1,184,000 after purchasing an additional 28,962 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its holdings in Alkami Technology by 31.7% in the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total value of $40,931,041.13. Following the sale, the director now directly owns 17,186,985 shares in the company, valued at approximately $455,970,712.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, June 17th. The shares were sold at an average price of $25.72, for a total value of $2,572,000.00. Following the completion of the transaction, the chief financial officer now directly owns 489,340 shares of the company’s stock, valued at approximately $12,585,824.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the completion of the transaction, the director now directly owns 17,186,985 shares of the company’s stock, valued at $455,970,712.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,848,472 shares of company stock worth $49,241,550. Insiders own 25.90% of the company’s stock.

Alkami Technology Price Performance

Shares of ALKT stock opened at $30.30 on Wednesday. Alkami Technology, Inc. has a one year low of $14.93 and a one year high of $30.48. The company’s fifty day moving average price is $26.66 and its 200-day moving average price is $25.18. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. Alkami Technology’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) EPS. As a group, equities research analysts anticipate that Alkami Technology, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

ALKT has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and issued a $32.00 target price on shares of Alkami Technology in a report on Tuesday, June 25th. JMP Securities restated a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a report on Monday, April 15th. Finally, Craig Hallum raised their target price on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

About Alkami Technology

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.