Braun Stacey Associates Inc. Takes Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Braun Stacey Associates Inc. purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 349,670 shares of the company's stock, valued at approximately $9,179,000. Braun Stacey Associates Inc. owned 0.34% of Alkami Technology at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ALKT. Essex Investment Management Co. LLC purchased a new position in shares of Alkami Technology during the fourth quarter valued at approximately $34,000. Perkins Coie Trust Co raised its stake in Alkami Technology by 62.5% during the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after buying an additional 500 shares during the last quarter. Versant Capital Management Inc bought a new stake in Alkami Technology in the first quarter worth $36,000. Amalgamated Bank grew its stake in shares of 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 acquiring an additional 704 shares during the last quarter. Finally, NBC Securities Inc. raised its position in shares of Alkami Technology by 114,550.0% in the 1st quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock worth $60,000 after purchasing an additional 2,291 shares during the last quarter. Institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Performance

NASDAQ:ALKT traded down $0.07 during trading hours on Tuesday, reaching $30.19. The company had a trading volume of 1,254,984 shares, compared to its average volume of 914,239. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 1.23. Alkami Technology, Inc. has a 52 week low of $21.70 and a 52 week high of $42.29. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -79.45 and a beta of 0.59. The firm's 50 day moving average price is $29.20 and its 200-day moving average price is $30.09.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 7,170 shares of Alkami Technology stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $203,341.20. Following the completion of the sale, the insider owned 238,172 shares of the company's stock, valued at approximately $6,754,557.92. The trade was a 2.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 20,365 shares of Alkami Technology 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 $577,551.40. Following the completion of the sale, the chief financial officer directly owned 430,255 shares of the company's stock, valued at approximately $12,202,031.80. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,690 shares of company stock valued at $785,288. Company insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ALKT shares. Barclays cut their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. started coverage on Alkami Technology in a research note on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price on the stock. Needham & Company LLC decreased their price target on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Lake Street Capital lowered their price target on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Alkami Technology currently has a consensus rating of "Moderate Buy" and an average target price of $39.25.

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.