Roubaix Capital LLC Invests $2.52 Million in Alkami Technology, Inc. $ALKT

Roubaix Capital LLC purchased a new position in Alkami Technology, Inc. (NASDAQ:ALKT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 161,101 shares of the company’s stock, valued at approximately $2,524,000.

Several other institutional investors also recently added to or reduced their stakes in ALKT. Bank of New York Mellon Corp increased its holdings in Alkami Technology by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 431,007 shares of the company’s stock worth $6,754,000 after buying an additional 10,296 shares during the last quarter. Fifth Third Bancorp raised its position in Alkami Technology by 456.7% in the first quarter. Fifth Third Bancorp now owns 6,190 shares of the company’s stock worth $97,000 after acquiring an additional 5,078 shares during the period. Summit Securities Group LLC boosted its stake in Alkami Technology by 84.2% in the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after acquiring an additional 842 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in Alkami Technology by 26.3% in the first quarter. Taylor Frigon Capital Management LLC now owns 149,610 shares of the company’s stock valued at $2,344,000 after acquiring an additional 31,135 shares during the last quarter. Finally, West Tower Group LLC purchased a new position in Alkami Technology in the first quarter valued at about $188,000. Institutional investors own 54.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citizens Jmp decreased their price target on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, June 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.20.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the acquisition, the director owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. This represents a 3.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have purchased 4,041,543 shares of company stock worth $67,594,674. Corporate insiders own 17.10% of the company’s stock.

Alkami Technology Trading Down 1.3%

Shares of Alkami Technology stock opened at $17.91 on Friday. Alkami Technology, Inc. has a 52-week low of $13.98 and a 52-week high of $28.53. The stock’s 50-day simple moving average is $16.79 and its 200 day simple moving average is $17.66. The stock has a market capitalization of $1.92 billion, a P/E ratio of -38.11 and a beta of 0.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.30 and a current ratio of 2.30.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). The business had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative return on equity of 8.91% and a negative net margin of 10.55%.Alkami Technology’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. As a group, research analysts anticipate that Alkami Technology, Inc. will post 0.18 EPS for the current year.

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.