George Kaiser Family Foundation Makes New Investment in Alkami Technology, Inc. $ALKT

Key Points

• The George Kaiser Family Foundation acquired 112,315 shares of Alkami Technology for approximately $2.95 million, making it the 12th largest position in their portfolio.
• Insider transactions include a significant purchase of 650,000 shares by director Atlantic Genpar at an average price of $20.70, increasing their stake by 6.11%.
• Analyst ratings for Alkami Technology show a consensus of Moderate Buy with an average target price of $39.25 after several price revisions by various research firms.

George Kaiser Family Foundation acquired a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 112,315 shares of the company's stock, valued at approximately $2,948,000. Alkami Technology accounts for approximately 0.4% of George Kaiser Family Foundation's investment portfolio, making the stock its 12th biggest position. George Kaiser Family Foundation owned approximately 0.11% of Alkami Technology at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in Alkami Technology by 50.8% in the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after purchasing an additional 704 shares during the period. GAMMA Investing LLC boosted its holdings in Alkami Technology by 1,386.9% in the first quarter. GAMMA Investing LLC now owns 10,973 shares of the company's stock worth $288,000 after purchasing an additional 10,235 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Alkami Technology by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company's stock worth $1,535,000 after purchasing an additional 1,166 shares during the period. Bank of America Corp DE boosted its holdings in Alkami Technology by 7.1% in the fourth quarter. Bank of America Corp DE now owns 229,629 shares of the company's stock worth $8,423,000 after purchasing an additional 15,293 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in Alkami Technology by 10.1% in the fourth quarter. Nuveen Asset Management LLC now owns 437,521 shares of the company's stock worth $16,048,000 after purchasing an additional 40,106 shares during the period. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT traded up $0.02 during midday trading on Tuesday, reaching $22.49. 812,510 shares of the company traded hands, compared to its average volume of 1,777,362. Alkami Technology, Inc. has a 52 week low of $19.94 and a 52 week high of $42.29. The stock has a 50-day moving average price of $26.73 and a 200 day moving average price of $27.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -59.18 and a beta of 0.57.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 20,365 shares of Alkami Technology stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $28.36, for a total transaction of $577,551.40. Following the sale, the chief financial officer directly owned 430,255 shares in the company, valued at $12,202,031.80. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Atlantic Genpar (Bermu General purchased 229,391 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average price of $22.44 per share, for a total transaction of $5,147,534.04. Following the completion of the transaction, the director owned 12,033,436 shares of the company's stock, valued at $270,030,303.84. This represents a 1.94% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,396,162 shares of company stock worth $29,692,440 and have sold 27,690 shares worth $785,288. Company insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALKT shares. JPMorgan Chase & Co. started coverage on Alkami Technology in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 target price on the stock. Needham & Company LLC cut their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Lake Street Capital cut their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a research note on Thursday, May 1st. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $39.25.

About Alkami Technology

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.