Jump Financial LLC Sells 48,647 Shares of Alkami Technology, Inc. $ALKT

Key Points

• Jump Financial LLC reduced its stake in Alkami Technology by 41.7%, selling 48,647 shares and owning 68,000 shares worth approximately $1.8 million as of their latest SEC filing.
• Several institutional investors have recently increased their positions in Alkami Technology, including Mariner LLC with a 25.3% increase and Tower Research Capital LLC with a 73.7% increase in their shareholdings.
• Analysts have mixed ratings on Alkami Technology, with six firms issuing a "Buy" rating and an average price target of $39.25, while some reduced their price targets significantly.

Jump Financial LLC trimmed its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 41.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,000 shares of the company's stock after selling 48,647 shares during the quarter. Jump Financial LLC owned 0.07% of Alkami Technology worth $1,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Alkami Technology by 6.7% in the first 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. Whale Rock Capital Management LLC bought a new stake in Alkami Technology in the 4th quarter worth $78,878,000. Driehaus Capital Management LLC raised its holdings in Alkami Technology by 16.7% in the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after purchasing an additional 299,728 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Alkami Technology by 61.6% during the first quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company's stock valued at $51,242,000 after buying an additional 743,884 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Alkami Technology by 27.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,533,526 shares of the company's stock valued at $40,255,000 after buying an additional 328,945 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT traded down $0.09 during trading on Monday, hitting $25.60. The company had a trading volume of 869,982 shares, compared to its average volume of 1,727,468. The stock has a 50 day simple moving average of $26.23 and a 200 day simple moving average of $27.18. 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 12 month low of $19.94 and a 12 month high of $42.29. The firm has a market capitalization of $2.66 billion, a P/E ratio of -67.37 and a beta of 0.58.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 650,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were acquired at an average cost 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 in the company, valued at $233,646,571.80. The trade was a 6.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have acquired 1,396,162 shares of company stock valued at $29,692,440. Corporate insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. assumed coverage on shares of Alkami Technology in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price target 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.25.

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.