Alkami Technology, Inc. $ALKT Shares Sold by Axiom Investors LLC DE

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 lessened its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of Alkami Technology by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company's stock worth $18,920,000 after purchasing an additional 71,949 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Alkami Technology by 236.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 28,015 shares of the company's stock worth $735,000 after purchasing an additional 19,700 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Alkami Technology by 706.8% during the 1st quarter. Select Equity Group L.P. now owns 526,026 shares of the company's stock worth $13,808,000 after purchasing an additional 460,827 shares during the last quarter. Petrus Trust Company LTA raised its position in shares of Alkami Technology by 17.4% during the 1st quarter. Petrus Trust Company LTA now owns 37,943 shares of the company's stock worth $996,000 after purchasing an additional 5,634 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Alkami Technology during the 1st quarter worth about $2,439,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. initiated coverage on shares of Alkami Technology in a research report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price target for the company. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.25.

Alkami Technology Trading Down 0.0%

Shares of NASDAQ ALKT traded down $0.01 during midday trading on Friday, reaching $25.29. 746,910 shares of the stock were exchanged, compared to its average volume of 1,204,948. The company has a 50 day simple moving average of $25.40 and a 200 day simple moving average of $26.82. The stock has a market capitalization of $2.63 billion, a P/E ratio of -66.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29.

Insider Transactions at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General purchased 229,391 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average price of $22.44 per share, for a total transaction of $5,147,534.04. Following the acquisition, the director directly owned 12,033,436 shares of the company's stock, valued at approximately $270,030,303.84. This represents a 1.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Prerna Sachdeva sold 2,967 shares of the firm'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 transaction of $73,462.92. Following the sale, the chief accounting officer owned 66,061 shares of the company's stock, valued at $1,635,670.36. This represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders bought 1,396,162 shares of company stock worth $29,692,440 in the last 90 days. Insiders own 18.10% of the company's stock.

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.