Axiom Investors LLC DE Sells 237,833 Shares of Alkami Technology, Inc. $ALKT

Key Points

• Axiom Investors LLC DE reduced its stake in Alkami Technology, Inc. by 50.0%, holding approximately 0.23% of the company, valued at about $6.24 million as of the end of the last quarter.
• JPMorgan Chase & Co. initiated coverage of Alkami Technology with an "overweight" rating and a price target of $40.00, joining six other analysts who have rated the stock as a Buy.
• Noteworthy insider transactions include Director Atlantic Genpar purchasing 229,391 shares for over $5.14 million, while CFO W Bryan Hill sold 20,366 shares valued at approximately $504,262.

Axiom Investors LLC DE reduced its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 50.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 237,837 shares of the company's stock after selling 237,833 shares during the period. Axiom Investors LLC DE owned 0.23% of Alkami Technology worth $6,243,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ALKT. Northern Trust Corp grew its holdings in Alkami Technology by 21.7% during the 4th quarter. Northern Trust Corp now owns 652,106 shares of the company's stock worth $23,919,000 after acquiring an additional 116,170 shares during the period. Ameriprise Financial Inc. grew its holdings in Alkami Technology by 37.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,208,179 shares of the company's stock worth $44,316,000 after acquiring an additional 326,979 shares during the period. BNP Paribas Financial Markets acquired a new stake in Alkami Technology during the 4th quarter worth about $4,900,000. Bank of America Corp DE grew its holdings in Alkami Technology by 7.1% during the 4th quarter. Bank of America Corp DE now owns 229,629 shares of the company's stock worth $8,423,000 after acquiring an additional 15,293 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in Alkami Technology during the 4th quarter worth about $550,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 20,366 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value of $504,262.16. Following the transaction, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Prerna Sachdeva sold 2,967 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total transaction of $73,462.92. Following the completion of the transaction, the chief accounting officer directly owned 66,061 shares in the company, valued at approximately $1,635,670.36. The trade was a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 1,396,162 shares of company stock valued at $29,692,440 in the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. began coverage on shares of Alkami Technology in a research report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

Alkami Technology Stock Down 0.0%

Shares of ALKT stock traded down $0.01 on Friday, reaching $25.29. 746,937 shares of the company were exchanged, compared to its average volume of 1,310,287. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -66.55 and a beta of 0.58. The company has a 50-day moving average of $25.30 and a 200-day moving average of $26.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.68 and a quick ratio of 2.68. Alkami Technology, Inc. has a one year low of $19.94 and a one year high of $42.29.

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.