Next Century Growth Investors LLC Raises Stake in Alkami Technology, Inc. $ALKT

Key Points

• Next Century Growth Investors LLC increased its holdings in Alkami Technology by 7.3%, owning approximately 452,284 shares worth $11.87 million after acquiring an additional 30,661 shares in the first quarter.
• Brokerages have recently adjusted their target prices for Alkami Technology, with Lake Street Capital and Needham & Company both lowering their target prices to around $40 while maintaining a "buy" rating.
• Insiders sold a combined 27,690 shares of Alkami Technology recently, suggesting potential shifts in investor confidence, while insiders still own 18.10% of the company's stock.

Next Century Growth Investors LLC raised its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 452,284 shares of the company's stock after acquiring an additional 30,661 shares during the quarter. Next Century Growth Investors LLC owned approximately 0.44% of Alkami Technology worth $11,872,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Perkins Coie Trust Co lifted its holdings in Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after acquiring an additional 500 shares during the period. Versant Capital Management Inc acquired a new position in shares of Alkami Technology during the 1st quarter worth approximately $36,000. Quarry LP acquired a new position in shares of Alkami Technology during the 4th quarter worth approximately $61,000. Amalgamated Bank raised its stake in shares of Alkami Technology by 50.8% during the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after buying an additional 704 shares during the period. Finally, Summit Securities Group LLC acquired a new position in shares of Alkami Technology during the 1st quarter worth approximately $59,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Atlantic Genpar (Bermu General acquired 650,000 shares of Alkami Technology stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $20.70 per share, with a total value of $13,455,000.00. Following the purchase, the director owned 11,287,274 shares in the company, valued at $233,646,571.80. This trade represents a 6.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders acquired 1,396,162 shares of company stock valued at $29,692,440. 18.10% of the stock is currently owned by corporate insiders.

Alkami Technology Price Performance

NASDAQ ALKT traded down $0.90 during mid-day trading on Tuesday, hitting $24.71. The stock had a trading volume of 519,111 shares, compared to its average volume of 1,202,131. The firm's 50 day moving average is $26.16 and its 200 day moving average is $27.13. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -65.01 and a beta of 0.58.

Wall Street Analyst Weigh In

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

Alkami Technology Company 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.