12,450 Shares in Alkami Technology, Inc. $ALKT Acquired by Harbour Capital Advisors LLC

Key Points

• Harbour Capital Advisors LLC has acquired 12,450 shares of Alkami Technology, Inc. valued at approximately $364,000 during the second quarter.
• Insider trading included a significant purchase of 229,391 shares by Director Atlantic Genpar at an average price of $22.44, totaling over $5 million.
• JPMorgan began coverage on Alkami Technology with an "overweight" rating and a price target of $40.00, indicating a positive outlook for the stock.

Harbour Capital Advisors LLC purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,450 shares of the company's stock, valued at approximately $364,000.

Other institutional investors also recently added to or reduced their stakes in the company. George Kaiser Family Foundation acquired a new position in Alkami Technology during the first quarter worth approximately $2,948,000. Harbor Capital Advisors Inc. grew its stake in shares of Alkami Technology by 370.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 63,660 shares of the company's stock valued at $1,919,000 after purchasing an additional 50,131 shares during the last quarter. Amalgamated Bank grew its stake in shares of Alkami Technology by 50.8% in the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company's stock valued at $55,000 after purchasing an additional 704 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Alkami Technology by 6.7% in 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 last quarter. Finally, Corebridge Financial Inc. grew its stake in shares of Alkami Technology by 12.6% in the 1st quarter. Corebridge Financial Inc. now owns 29,714 shares of the company's stock valued at $780,000 after purchasing an additional 3,325 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Insider Buying and Selling

In related news, CAO Prerna Sachdeva sold 2,967 shares of Alkami Technology stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the transaction, the chief accounting officer directly owned 66,061 shares in the company, valued at $1,635,670.36. The trade was a 4.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 20,366 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $504,262.16. Following the completion of the sale, the chief financial officer directly owned 409,889 shares of the company's stock, valued at approximately $10,148,851.64. This trade represents a 4.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,396,162 shares of company stock valued at $29,692,440. Insiders own 18.10% of the company's stock.

Alkami Technology Stock Up 1.0%

NASDAQ ALKT traded up $0.25 during mid-day trading on Tuesday, reaching $25.64. 411,984 shares of the company's stock traded hands, compared to its average volume of 1,205,059. Alkami Technology, Inc. has a 1-year low of $19.94 and a 1-year high of $42.29. The company has a fifty day simple moving average of $24.80 and a 200-day simple moving average of $26.62. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -67.39 and a beta of 0.58.

Analyst Ratings Changes

Separately, 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 price target on the stock. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Alkami Technology has an average rating of "Moderate Buy" and an average price target of $39.25.

Alkami Technology Company 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.