George Kaiser Family Foundation Makes New $2.95 Million 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 stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 112,315 shares of the company's stock, valued at approximately $2,948,000. Alkami Technology accounts for about 0.4% of George Kaiser Family Foundation's investment portfolio, making the stock its 12th biggest holding. George Kaiser Family Foundation owned approximately 0.11% of Alkami Technology at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Alkami Technology by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock valued at $208,676,000 after purchasing an additional 501,722 shares during the period. Whale Rock Capital Management LLC acquired a new position in Alkami Technology during the 4th quarter valued at approximately $78,878,000. Driehaus Capital Management LLC boosted its position in Alkami Technology by 16.7% during the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock valued at $76,787,000 after purchasing an additional 299,728 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Alkami Technology by 27.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,533,526 shares of the company's stock valued at $40,255,000 after purchasing an additional 328,945 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Alkami Technology by 37.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,208,179 shares of the company's stock valued at $44,316,000 after purchasing an additional 326,979 shares during the period. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Price Performance

ALKT traded up $1.7050 during trading on Friday, reaching $25.4050. The stock had a trading volume of 2,029,417 shares, compared to its average volume of 1,201,185. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -66.81 and a beta of 0.57. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17. Alkami Technology, Inc. has a 1-year low of $19.94 and a 1-year high of $42.29. The stock has a 50 day moving average of $26.51 and a two-hundred day moving average of $27.67.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Atlantic Genpar (Bermu General bought 229,391 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $22.44 per share, for a total transaction of $5,147,534.04. Following the completion of the transaction, the director directly owned 12,033,436 shares of the company's stock, valued at approximately $270,030,303.84. This trade represents a 1.94% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 7,170 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $203,341.20. Following the completion of the sale, the insider owned 238,172 shares in the company, valued at $6,754,557.92. The trade was a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,396,162 shares of company stock worth $29,692,440 and sold 27,690 shares worth $785,288. 18.10% of the stock is currently owned by insiders.

Alkami Technology Profile

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.