Susquehanna Fundamental Investments LLC Purchases Shares of 23,386 Alkami Technology, Inc. (NASDAQ:ALKT)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 23,386 shares of the company’s stock, valued at approximately $666,000.

Several other institutional investors have also added to or reduced their stakes in ALKT. Swiss National Bank lifted its stake in shares of Alkami Technology by 1.3% in the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after purchasing an additional 1,100 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Alkami Technology by 61.6% in the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after purchasing an additional 1,102 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Alkami Technology by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after purchasing an additional 1,460 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Alkami Technology by 14.8% in the 2nd quarter. Arizona State Retirement System now owns 13,543 shares of the company’s stock valued at $386,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Alkami Technology by 15.8% in the 2nd quarter. Blair William & Co. IL now owns 18,705 shares of the company’s stock valued at $533,000 after purchasing an additional 2,550 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

ALKT has been the subject of several analyst reports. Lake Street Capital raised their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JMP Securities raised their price objective on Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Craig Hallum raised their price objective on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC raised their price target on Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upped their price objective on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.89.

Alkami Technology Price Performance

ALKT opened at $32.03 on Thursday. Alkami Technology, Inc. has a 12-month low of $16.49 and a 12-month high of $36.00. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $31.63 and its 200-day simple moving average is $28.43. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -53.38 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. During the same quarter in the prior year, the company earned ($0.17) EPS. The business’s revenue was up 24.9% compared to the same quarter last year. On average, equities research analysts anticipate that Alkami Technology, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 55,046 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the transaction, the chief financial officer now owns 471,403 shares of the company’s stock, valued at approximately $14,703,059.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alkami Technology news, CFO W Bryan Hill sold 55,046 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.19, for a total value of $1,716,884.74. Following the completion of the transaction, the chief financial officer now directly owns 471,403 shares in the company, valued at $14,703,059.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Bohanon sold 35,893 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the completion of the sale, the insider now owns 403,786 shares in the company, valued at $13,567,209.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is currently owned by corporate insiders.

Alkami Technology Profile

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.