Rice Hall James & Associates LLC Invests $1.01 Million in Alkami Technology, Inc. $ALKT

Rice Hall James & Associates LLC acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 64,327 shares of the company’s stock, valued at approximately $1,008,000. Rice Hall James & Associates LLC owned approximately 0.06% of Alkami Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALKT. Irenic Capital Management LP acquired a new stake in shares of Alkami Technology in the fourth quarter valued at about $48,596,000. North Reef Capital Management LP raised its position in Alkami Technology by 1,545.7% in the fourth quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company’s stock valued at $48,447,000 after purchasing an additional 1,972,396 shares during the period. Cadian Capital Management LP purchased a new position in shares of Alkami Technology during the 4th quarter worth approximately $26,969,000. Westfield Capital Management Co. LP grew its position in Alkami Technology by 33.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after acquiring an additional 1,023,297 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Alkami Technology by 40.3% in the fourth quarter. Janus Henderson Group PLC now owns 3,208,436 shares of the company’s stock worth $74,019,000 after acquiring an additional 921,055 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Insider Activity

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 844,772 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $16.63 per share, for a total transaction of $14,048,558.36. Following the transaction, the director directly owned 17,445,994 shares in the company, valued at approximately $290,126,880.22. The trade was a 5.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have purchased a total of 4,041,543 shares of company stock valued at $67,594,674 in the last three months. Insiders own 17.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several research analyst reports. Citizens Jmp cut their target price 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. JPMorgan Chase & Co. decreased their price target 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 reissued a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.20.

Alkami Technology Price Performance

ALKT stock opened at $16.79 on Monday. The company has a 50 day moving average of $16.82 and a two-hundred day moving average of $17.41. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. Alkami Technology, Inc. has a 12-month low of $13.98 and a 12-month high of $28.53. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -35.72 and a beta of 0.57.

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