Alkami Technology, Inc. $ALKT Holdings Raised by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. increased its stake in Alkami Technology by 370.5% during the 2nd quarter, now owning 63,660 shares valued at approximately $1.9 million.
• JPMorgan Chase & Co. has initiated coverage on Alkami Technology with an "overweight" rating and a price target of $40.00, as the stock holds a consensus rating of "Moderate Buy".
• Significant insider trading activity has occurred, with the CFO selling over 20,000 shares and a director acquiring 650,000 shares, reflecting a mix of confidence and strategic adjustments among executive leadership.

Harbor Capital Advisors Inc. lifted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 370.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 63,660 shares of the company's stock after purchasing an additional 50,131 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.06% of Alkami Technology worth $1,919,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Alkami Technology by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock worth $208,676,000 after purchasing an additional 501,722 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Alkami Technology by 5.8% during the 1st quarter. Alliancebernstein L.P. now owns 2,865,423 shares of the company's stock worth $75,217,000 after purchasing an additional 158,094 shares during the period. Champlain Investment Partners LLC grew its holdings in shares of Alkami Technology by 64.0% during the 1st quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company's stock worth $67,805,000 after purchasing an additional 1,008,025 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Alkami Technology by 61.6% during the 1st quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company's stock worth $51,242,000 after purchasing an additional 743,884 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Alkami Technology by 27.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,533,526 shares of the company's stock worth $40,255,000 after purchasing an additional 328,945 shares during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 650,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $20.70 per share, with a total value of $13,455,000.00. Following the transaction, the director directly owned 11,287,274 shares in the company, valued at approximately $233,646,571.80. This trade represents a 6.11% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Prerna Sachdeva sold 2,967 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 1,396,162 shares of company stock valued at $29,692,440 in the last three months. Corporate insiders own 18.10% of the company's stock.

Alkami Technology Stock Up 2.5%

Shares of ALKT traded up $0.65 during trading on Thursday, reaching $26.53. The company's stock had a trading volume of 1,116,199 shares, compared to its average volume of 1,252,219. The company has a fifty day moving average of $24.94 and a two-hundred day moving average of $26.68. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -69.82 and a beta of 0.58. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. assumed coverage on Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price for the company. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company 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.