Braun Stacey Associates Inc. Takes $9.18 Million Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Braun Stacey Associates Inc. acquired a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Alkami Technology by 2.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company's stock valued at $1,535,000 after purchasing an additional 1,166 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Alkami Technology by 1,386.9% during the first quarter. GAMMA Investing LLC now owns 10,973 shares of the company's stock valued at $288,000 after purchasing an additional 10,235 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Alkami Technology by 86.8% during the fourth quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock valued at $10,595,000 after purchasing an additional 134,198 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Alkami Technology by 7.1% during the fourth quarter. Bank of America Corp DE now owns 229,629 shares of the company's stock valued at $8,423,000 after purchasing an additional 15,293 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Alkami Technology by 15.8% during the fourth quarter. Geode Capital Management LLC now owns 1,426,038 shares of the company's stock valued at $52,320,000 after purchasing an additional 194,051 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Douglas A. Linebarger sold 7,170 shares of the business's stock in a transaction on Monday, June 2nd. The shares were 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 of the company's stock, valued at $6,754,557.92. The trade was a 2.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph P. Payne acquired 8,200 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of $30.46 per share, with a total value of $249,772.00. Following the transaction, the director owned 21,128 shares in the company, valued at approximately $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 27,690 shares of company stock valued at $785,288 in the last 90 days. Company insiders own 18.10% of the company's stock.

Alkami Technology Stock Performance

Shares of ALKT stock traded down $0.38 during mid-day trading on Monday, reaching $30.26. 743,408 shares of the company's stock traded hands, compared to its average volume of 910,699. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The firm has a 50 day moving average price of $29.12 and a two-hundred day moving average price of $30.09. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.75 and a current ratio of 2.75. The firm has a market capitalization of $3.12 billion, a PE ratio of -79.63 and a beta of 0.59.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALKT shares. JPMorgan Chase & Co. began coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price for the company. JMP Securities reissued a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. Needham & Company LLC reduced their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Lake Street Capital reduced their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.