Riverbridge Partners LLC Has $10.80 Million Position in Alkami Technology, Inc. $ALKT

Riverbridge Partners LLC lowered its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 61.4% during the first quarter, HoldingsChannel.com reports. The fund owned 688,980 shares of the company’s stock after selling 1,096,118 shares during the period. Riverbridge Partners LLC’s holdings in Alkami Technology were worth $10,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ALKT. Smartleaf Asset Management LLC lifted its holdings in Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after buying an additional 916 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Alkami Technology in the fourth quarter valued at about $37,000. CWM LLC increased its stake in shares of Alkami Technology by 97.6% in the 4th quarter. CWM LLC now owns 1,942 shares of the company’s stock valued at $45,000 after acquiring an additional 959 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Alkami Technology in the fourth quarter worth $48,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insiders Place Their Bets

In other news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the purchase, the director directly owned 19,420,994 shares of the company’s stock, valued at $320,252,191.06. This represents a 3.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 4,041,543 shares of company stock worth $67,594,674. Insiders own 17.10% of the company’s stock.

Alkami Technology Stock Up 3.2%

ALKT stock opened at $15.05 on Wednesday. The firm has a 50-day moving average price of $16.48 and a 200-day moving average price of $18.22. Alkami Technology, Inc. has a 12 month low of $13.98 and a 12 month high of $31.08. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $1.61 billion, a P/E ratio of -32.02 and a beta of 0.57.

Alkami Technology (NASDAQ:ALKT) last announced 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). The company had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. As a group, equities research analysts anticipate that Alkami Technology, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on ALKT shares. Needham & Company LLC dropped their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Citizens Jmp reduced their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a report on Thursday, April 30th. Finally, Barclays decreased their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Three 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 company. According to MarketBeat.com, Alkami Technology presently has an average rating of “Hold” and an average price target of $22.20.

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.