Activist investor JANA Partners Management, LP, has disclosed a 6.3% stake in Alkami Technology, Inc., according to a Schedule 13D filing made on June 29, 2026. JANA believes that Alkami's shares are undervalued and has been building its position in the company over recent months. This increased stake signals a more aggressive approach from JANA to influence the company's direction.
JANA plans to actively press Alkami to explore strategic alternatives, with a particular focus on a potential sale of the company. The firm explicitly stated it is "exploring a sale, including by engaging with multiple parties interested in a potential acquisition," and emphasizes that any discussions should realistically reflect Alkami’s public market prospects and intrinsic value. This push for a sale follows earlier reports in May 2026, where JANA was said to be urging Alkami to restart a sales process, believing the company remains an attractive takeover candidate for private equity or a public company.
Beyond a sale, JANA also intends to influence Alkami's corporate governance and board leadership. The activist investor is known for advocating for governance changes to unlock value in companies. This move suggests potential pushes for board changes or refreshed oversight, aiming to accelerate value creation for shareholders. JANA's prior actions include urging Alkami to explore a sale as early as December 2025, where its managing partner, Scott Ostfeld, stated that Alkami was undervalued after a 40% slide in its share price in 2025.
