Lavelle Capital LP Takes Position in Alkami Technology, Inc. $ALKT

Lavelle Capital LP acquired a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the first quarter, HoldingsChannel reports. The firm acquired 48,658 shares of the company’s stock, valued at approximately $762,000.

Several other institutional investors have also bought and sold shares of the stock. Irenic Capital Management LP bought a new stake in shares of Alkami Technology during the 4th quarter worth about $48,596,000. Nicholas Company Inc. boosted its holdings in shares of Alkami Technology by 11.2% in the fourth quarter. Nicholas Company Inc. now owns 312,297 shares of the company’s stock valued at $7,205,000 after acquiring an additional 31,410 shares in the last quarter. Praesidium Investment Management Company LLC boosted its holdings in shares of Alkami Technology by 13.4% in the fourth quarter. Praesidium Investment Management Company LLC now owns 2,287,096 shares of the company’s stock valued at $52,763,000 after acquiring an additional 269,524 shares in the last quarter. Chicago Capital LLC increased its stake in shares of Alkami Technology by 25.5% during the fourth quarter. Chicago Capital LLC now owns 1,701,532 shares of the company’s stock valued at $39,254,000 after acquiring an additional 346,245 shares during the period. Finally, Algebris UK Ltd. increased its stake in shares of Alkami Technology by 140.6% during the fourth quarter. Algebris UK Ltd. now owns 1,233,546 shares of the company’s stock valued at $28,471,000 after acquiring an additional 720,769 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Citizens Jmp lowered 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, 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. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.20.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $18.17 on Friday. The company has a 50-day moving average of $16.94 and a 200-day moving average of $17.28. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -43.26 and a beta of 0.57. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a twelve month low of $13.98 and a twelve month high of $26.89.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative return on equity of 7.69% and a negative net margin of 9.21%.The business had revenue of $126.14 million during the quarter, compared to the consensus estimate of $125.22 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. Analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.