36,699 Shares in Alkami Technology, Inc. $ALKT Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC has acquired 36,699 shares of Alkami Technology, Inc. valued at approximately $1,106,000 during the 2nd quarter.
• Insider trades indicate significant movement, with CFO W. Bryan Hill selling 20,366 shares and Director Atlantic Genpar purchasing 229,391 shares in recent transactions.
• Alkami Technology has an average rating of "Moderate Buy" from analysts, with a current target price of $39.25, while Weiss Ratings has issued a "sell" rating for the stock.

Janney Montgomery Scott LLC purchased a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,699 shares of the company's stock, valued at approximately $1,106,000.

Other large investors also recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in shares of Alkami Technology by 50.8% in the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after purchasing an additional 704 shares during the period. Summit Securities Group LLC purchased a new position in shares of Alkami Technology in the 1st quarter worth approximately $59,000. Advisors Asset Management Inc. boosted its holdings in shares of Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock worth $64,000 after purchasing an additional 594 shares during the period. KBC Group NV purchased a new position in shares of Alkami Technology in the 1st quarter worth approximately $73,000. Finally, Covestor Ltd boosted its holdings in shares of Alkami Technology by 18.8% in the 1st quarter. Covestor Ltd now owns 3,252 shares of the company's stock worth $85,000 after purchasing an additional 514 shares during the period. Institutional investors own 54.97% of the company's stock.

Insiders Place Their Bets

In other Alkami Technology news, CFO W Bryan Hill sold 20,366 shares of the company'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 in the company, valued at approximately $10,148,851.64. This represents a 4.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Atlantic Genpar (Bermu General bought 229,391 shares of the stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $22.44 per share, with a total value of $5,147,534.04. Following the completion of the acquisition, the director directly 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 bought 1,396,162 shares of company stock worth $29,692,440. 18.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ALKT shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alkami Technology in a report on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on Alkami Technology in a report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $39.25.

Alkami Technology Price Performance

Shares of ALKT stock opened at $23.14 on Tuesday. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -60.89 and a beta of 0.57. The stock has a fifty day simple moving average of $24.20 and a two-hundred day simple moving average of $26.47. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17.

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.

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