Westfield Capital Management Co. LP Increases Holdings in Alkami Technology, Inc. $ALKT

Westfield Capital Management Co. LP boosted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 33.1% during the fourth quarter, Holdings Channel reports. The firm owned 4,118,355 shares of the company’s stock after acquiring an additional 1,023,297 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Alkami Technology were worth $95,010,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. JANA Partners Management LP purchased a new position in Alkami Technology during the 3rd quarter valued at about $47,008,000. Long Path Partners LP raised its position in shares of Alkami Technology by 138.2% in the 3rd quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock worth $63,810,000 after acquiring an additional 1,490,357 shares in the last quarter. General Atlantic L.P. lifted its stake in shares of Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after purchasing an additional 2,346,162 shares during the period. Herald Investment Management Ltd boosted its position in shares of Alkami Technology by 122.2% during the third quarter. Herald Investment Management Ltd now owns 400,000 shares of the company’s stock valued at $9,936,000 after purchasing an additional 220,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Alkami Technology by 195.1% during the third quarter. Envestnet Asset Management Inc. now owns 404,110 shares of the company’s stock valued at $10,038,000 after purchasing an additional 267,174 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

Alkami Technology stock opened at $16.18 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $1.73 billion, a P/E ratio of -34.43 and a beta of 0.58. The stock’s 50 day moving average is $16.73 and its 200 day moving average is $18.75. Alkami Technology, Inc. has a twelve month low of $14.11 and a twelve month high of $31.18.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results 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). Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.The company had revenue of $126.14 million during the quarter, compared to analysts’ expectations of $125.22 million. During the same quarter in the previous year, the company earned $0.08 EPS. The business’s quarterly revenue was up 28.9% on a year-over-year basis. On average, equities research analysts predict that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Atlantic L.P. General bought 900,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average cost of $18.41 per share, for a total transaction of $16,569,000.00. Following the purchase, the director owned 14,879,451 shares in the company, valued at approximately $273,930,692.91. This trade represents a 6.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph P. Payne bought 5,500 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $18.23 per share, for a total transaction of $100,265.00. Following the completion of the purchase, the director owned 26,628 shares in the company, valued at approximately $485,428.44. The trade was a 26.03% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 7,393,058 shares of company stock worth $127,424,086. Insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALKT shares. JPMorgan Chase & Co. dropped their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Barclays dropped their price target on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Citizens Jmp dropped 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. Finally, Needham & Company LLC dropped their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alkami Technology presently has an average rating of “Hold” and a consensus target price of $22.80.

Alkami Technology 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.