Chicago Capital Slashes Its Alkami Technology Position by 1.6 Million Shares
Key Points
Sold 1,627,747 shares of Alkami Technology; estimated trade value ~$29.98 million (based on average price in first quarter 2026)
Quarter-end Alkami stake value dropped by $38.10 million, reflecting both share sale and price movement
Transaction represented 0.81% of Chicago Capital's reportable U.S. equity AUM
Post-trade position: 73,785 shares, valued at $1.16 million
Alkami now accounts for 0.03% of fund AUM, placing it outside Chicago Capital's top five holdings
- 10 stocks we like better than Alkami Technology ›
What happened
According to a Securities and Exchange Commission (SEC) filing dated April 23, 2026, Chicago Capital, LLC reduced its holdings in Alkami Technology (NASDAQ:ALKT) by 1,627,747 shares during the first quarter. The estimated transaction value, based on the average closing price for the quarter, was $29.98 million. The fund’s remaining position in Alkami was 73,785 shares as of March 31, 2026. The net position change for the quarter was a $38.10 million decrease.
What else to know
- Chicago Capital, LLC’s Alkami stake fell to 0.03% of its $3.71 billion reportable U.S. equity assets, following the sale
- Top holdings after the filing:
- NASDAQ:GOOGL: $212.79 million (5.7% of AUM)
- NASDAQ:META: $162.41 million (4.4% of AUM)
- NASDAQ:AMZN: $153.49 million (4.1% of AUM)
- NASDAQ:NVDA: $136.76 million (3.7% of AUM)
- NYSE:TSM: $132.37 million (3.6% of AUM)
- As of April 23, 2026, Alkami shares were priced at $15.94, down 39.2% over the prior year, underperforming the S&P 500 by 71.44 percentage points
- The position was previously 1.0% of the fund's AUM as of the prior quarter
- Fund reported 355 total U.S. equity positions after the filing
Company overview
| Metric | Value |
|---|---|
| Price (as of market close April 24, 2026) | $16.23 |
| Market capitalization | $1.72 billion |
| Revenue (TTM) | $443.64 million |
| Net income (TTM) | ($47.65 million) |
Company snapshot
- Offers a cloud-based digital banking platform, including products such as Alkami Platform, Retail Banking Solutions, and Business Banking Solutions.
- Generates revenue through software subscriptions and services that enable financial institutions to onboard users, drive engagement, and improve operational efficiency.
- Serves community banks, regional banks, credit unions, and both retail and business banking clients primarily in the United States.
Alkami Technology is a technology company focused on delivering cloud-based digital banking solutions to financial institutions. Its scalable, multi-tenant platform supports a broad suite of banking products designed to enhance client engagement and operational performance. With a strong presence among regional and community banks, Alkami leverages proprietary technology to address the evolving needs of the U.S. digital banking market.
What this transaction means for investors
It’s not hard to understand why Chicago Capital is disappointed with its Alkami Technology position. The stock is down about 61.6% from the peak it reached in late 2024.
Alkami hasn’t had trouble growing its top line. Trailing 12-month revenue rose by 89% over the past three years.
Alkami’s stock price has been under pressure for more reasons than one. In February, the company told investors it lost $11.4 million on a GAAP basis during the fourth quarter.
Alkamai’s latest quarterly report also upset investors with a forward outlook that was softer than expected. Total revenue is expected to rise to a range between $525.5 million and $530.5 million. The midpoint of the guided range implies a 19% gain this year.
In addition to a softer-than-expected forward outlook, Alkami stock has been caught up in a broader sell-off in software stocks. Fear that advances in artificial intelligence could disrupt the subscription-based services it offers is weighing heavily on the stock’s price.
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Cory Renauer has positions in Amazon. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
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