Bluefin Capital Management LLC Makes New $2.68 Million Investment in Alkami Technology, Inc. $ALKT

Bluefin Capital Management LLC purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 147,743 shares of the company’s stock, valued at approximately $2,677,000. Alkami Technology comprises approximately 0.7% of Bluefin Capital Management LLC’s portfolio, making the stock its 24th largest position.

A number of other hedge funds have also made changes to their positions in ALKT. Amundi raised its stake in shares of Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after acquiring an additional 548 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after purchasing an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Alkami Technology by 19.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock worth $947,000 after purchasing an additional 5,884 shares during the period. Millennium Management LLC boosted its position in Alkami Technology by 64.7% during the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock worth $18,340,000 after purchasing an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Alkami Technology by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock valued at $18,920,000 after purchasing an additional 71,949 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $19.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday. Needham & Company LLC raised their target price on shares of Alkami Technology from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Monday. Finally, Citizens Jmp dropped their target price on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.80.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $20.35 on Thursday. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -48.45 and a beta of 0.58. The business has a 50 day moving average price of $18.23 and a 200 day moving average price of $17.21. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.98. Alkami Technology, Inc. has a twelve month low of $13.98 and a twelve month high of $26.89.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.23). Alkami Technology had a negative return on equity of 7.68% and a negative net margin of 9.21%.The business had revenue of $129.84 million during the quarter, compared to the consensus estimate of $128.70 million. During the same period in the prior year, the firm earned ($0.13) earnings per share. The business’s quarterly revenue was up 15.8% on a year-over-year basis. Research analysts predict that Alkami Technology, Inc. will post 0.14 earnings per share for the current year.

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.