Envestnet Asset Management Inc. Grows Stock Holdings in Alkami Technology, Inc. $ALKT

Envestnet Asset Management Inc. grew its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 9.5% during the second quarter, HoldingsChannel reports. The firm owned 136,936 shares of the company’s stock after purchasing an additional 11,917 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alkami Technology were worth $4,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Praesidium Investment Management Company LLC acquired a new position in Alkami Technology in the first quarter valued at $40,223,000. Champlain Investment Partners LLC boosted its stake in Alkami Technology by 64.0% in the 1st quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company’s stock worth $67,805,000 after buying an additional 1,008,025 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Alkami Technology by 61.6% in the 1st quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company’s stock valued at $51,242,000 after buying an additional 743,884 shares during the period. Long Path Partners LP increased its stake in shares of Alkami Technology by 304.4% during the 1st quarter. Long Path Partners LP now owns 685,532 shares of the company’s stock valued at $17,995,000 after acquiring an additional 516,034 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Alkami Technology by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company’s stock valued at $208,676,000 after acquiring an additional 501,722 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALKT shares. JPMorgan Chase & Co. decreased their target price on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. The Goldman Sachs Group decreased their price target on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Needham & Company LLC lowered their price objective on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Zacks Research downgraded Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Citizens Jmp reduced their target price on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a report on Friday, October 31st. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 20,366 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total transaction of $504,262.16. Following the transaction, the chief financial officer owned 409,889 shares in the company, valued at $10,148,851.64. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Prerna Sachdeva sold 2,967 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value of $73,462.92. Following the completion of the sale, the chief accounting officer owned 66,061 shares of the company’s stock, valued at approximately $1,635,670.36. This trade represents a 4.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 18.10% of the company’s stock.

Alkami Technology Price Performance

ALKT opened at $20.07 on Friday. Alkami Technology, Inc. has a 52-week low of $18.71 and a 52-week high of $42.29. The company has a 50 day moving average of $23.42 and a two-hundred day moving average of $25.94. The company has a market cap of $2.11 billion, a P/E ratio of -46.67 and a beta of 0.55. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Thursday, October 30th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.29). Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%. The business had revenue of $112.95 million for the quarter, compared to analyst estimates of $113.48 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue was up 31.5% compared to the same quarter last year. Alkami Technology has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Alkami Technology Company 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.