Alkami Technology, Inc. $ALKT Shares Purchased by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC increased its stake in Alkami Technology by 24.4%, owning 2,098,790 shares valued at approximately $63.26 million.
• JPMorgan Chase & Co. has initiated coverage on Alkami Technology with an "overweight" rating and a price target of $40.00.
• Institutions and hedge funds collectively hold 54.97% of Alkami Technology's stock, indicating significant institutional interest in the company.

Riverbridge Partners LLC boosted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 24.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,098,790 shares of the company's stock after acquiring an additional 412,299 shares during the period. Riverbridge Partners LLC owned 2.04% of Alkami Technology worth $63,258,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ALKT. George Kaiser Family Foundation purchased a new stake in Alkami Technology in the 1st quarter valued at approximately $2,948,000. Harbor Capital Advisors Inc. boosted its holdings in Alkami Technology by 370.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 63,660 shares of the company's stock valued at $1,919,000 after purchasing an additional 50,131 shares in the last quarter. Amalgamated Bank boosted its holdings in Alkami Technology by 50.8% in the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company's stock valued at $55,000 after purchasing an additional 704 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Alkami Technology by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock valued at $208,676,000 after purchasing an additional 501,722 shares in the last quarter. Finally, Corebridge Financial Inc. boosted its holdings in Alkami Technology by 12.6% in the 1st quarter. Corebridge Financial Inc. now owns 29,714 shares of the company's stock valued at $780,000 after purchasing an additional 3,325 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions 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 purchased at an average price of $20.70 per share, with a total value of $13,455,000.00. Following the completion of the acquisition, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 20,366 shares of the firm'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 transaction of $504,262.16. Following the completion of the sale, the chief financial officer owned 409,889 shares in the company, valued at $10,148,851.64. The trade was a 4.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 1,396,162 shares of company stock valued at $29,692,440. Insiders own 18.10% of the company's stock.

Alkami Technology Stock Down 1.3%

Shares of Alkami Technology stock opened at $25.29 on Thursday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average price of $24.71 and a 200 day moving average price of $26.60. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -66.55 and a beta of 0.58. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29.

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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