JANA Partners Acquires 6.3% Stake in Alkami Technology to Push for Sale

On June 29, 2026, JANA Partners Management, LP filed a Schedule 13D disclosing a new 6.3% stake in Alkami Technology, Inc. (ALKT). The reporting person acquired 6,747,707 shares of common stock for an aggregate purchase price of approximately $138 million. JANA Partners disclosed that it believes the shares are currently undervalued and intends to take an activist stance. Specifically, the firm plans to engage with Alkami's board of directors and management to explore a potential sale of the company to interested parties. Additionally, JANA intends to discuss corporate governance and board leadership improvements. Beyond the direct equity stake, JANA also disclosed economic exposure to an additional 3.9% of shares through cash-settled swaps. The filing marks a significant move by the activist investor to unlock value through a strategic transaction or operational changes. All transactions leading to this position were conducted in the open market, with the triggering event occurring on June 22, 2026.