19,126 Shares in Alkami Technology, Inc. $ALKT Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc has acquired 19,126 shares of Alkami Technology, Inc., valued at approximately $576,000, as part of their new position in the company.
• Insider trading activity includes CFO W. Bryan Hill selling 20,366 shares for over $504,000, while Director Atlantic Genpar purchased 229,391 shares for around $5.1 million.
• Weiss Ratings reaffirmed a "sell" rating on Alkami Technology, with a consensus rating of "Moderate Buy" and an average price target of $39.25 from investment analysts.

TD Asset Management Inc acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,126 shares of the company's stock, valued at approximately $576,000.

Several other large investors have also made changes to their positions in ALKT. CWM LLC raised its holdings in Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company's stock valued at $28,000 after acquiring an additional 601 shares in the last quarter. Blue Trust Inc. raised its holdings in Alkami Technology by 27.6% in the 2nd quarter. Blue Trust Inc. now owns 1,852 shares of the company's stock valued at $56,000 after acquiring an additional 401 shares in the last quarter. Amalgamated Bank raised its holdings in 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 acquiring an additional 704 shares in the last quarter. Summit Securities Group LLC acquired a new position in Alkami Technology in the 1st quarter valued at approximately $59,000. Finally, Advisors Asset Management Inc. raised its holdings in Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock valued at $64,000 after acquiring an additional 594 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Insider Activity

In other news, CFO W Bryan Hill sold 20,366 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 409,889 shares in the company, valued at approximately $10,148,851.64. This represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Atlantic Genpar (Bermu General acquired 229,391 shares of the stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $22.44 per share, for a total transaction of $5,147,534.04. Following the completion of the purchase, the director owned 12,033,436 shares in the company, valued at approximately $270,030,303.84. This trade represents a 1.94% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,396,162 shares of company stock worth $29,692,440. Company insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.25.

Alkami Technology Trading Up 0.5%

ALKT stock opened at $23.37 on Friday. Alkami Technology, Inc. has a 1-year low of $19.94 and a 1-year high of $42.29. The firm has a market cap of $2.43 billion, a P/E ratio of -61.50 and a beta of 0.57. The business's 50 day moving average is $24.46 and its 200-day moving average is $26.33. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17.

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.

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