Alkami Technology, Inc. $ALKT Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Alkami Technology by 874.9% during the first quarter, owning approximately 301,244 shares valued at about $7.9 million.
• Insider trading activity includes Atlantic Genpar acquiring 650,000 shares for $13.46 million, boosting their total ownership to around $233.6 million.
• JPMorgan Chase & Co. assigned an "overweight" rating to Alkami Technology with a target price of $40.00, reflecting positive analyst sentiment with a consensus rating of "Moderate Buy."

Raymond James Financial Inc. lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 874.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 301,244 shares of the company's stock after purchasing an additional 270,343 shares during the quarter. Raymond James Financial Inc. owned about 0.29% of Alkami Technology worth $7,908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Perkins Coie Trust Co increased its holdings in shares of 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 purchasing an additional 500 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Alkami Technology in the first quarter valued at approximately $36,000. Amalgamated Bank increased its holdings in shares of Alkami Technology by 50.8% in the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock valued at $55,000 after purchasing an additional 704 shares during the last quarter. NBC Securities Inc. increased its holdings in shares of Alkami Technology by 114,550.0% in the first quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock valued at $60,000 after purchasing an additional 2,291 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of Alkami Technology in the first quarter valued at approximately $73,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General acquired 650,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average cost of $20.70 per share, for a total transaction of $13,455,000.00. Following the completion of the transaction, the director owned 11,287,274 shares of the company's stock, valued at approximately $233,646,571.80. The trade was a 6.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 1,396,162 shares of company stock valued at $29,692,440 in the last ninety days. Corporate insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

Alkami Technology Trading Down 0.4%

Shares of Alkami Technology stock opened at $25.60 on Tuesday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -67.37 and a beta of 0.58. Alkami Technology, Inc. has a fifty-two week low of $19.94 and a fifty-two week high of $42.29. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a 50 day moving average of $26.16 and a 200 day moving average of $27.13.

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.

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