Charles Schwab Investment Management Inc. Raises Stock Holdings in Alkami Technology, Inc. $ALKT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Alkami Technology by 4.2%, holding 624,107 shares valued at approximately $16.38 million as of its latest SEC filing.
• A total of six research analysts have assigned a Buy rating to the stock, while two have assigned a Hold rating, with an average price target of $39.25.
• Insider transactions include notable sales by CFO W. Bryan Hill and insider Douglas A. Linebarger, both selling shares for around $28.36, indicating a slight decline in their holdings.

Charles Schwab Investment Management Inc. lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 624,107 shares of the company's stock after purchasing an additional 24,906 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.61% of Alkami Technology worth $16,383,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALKT. Perkins Coie Trust Co grew its position in Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock worth $34,000 after acquiring an additional 500 shares during the period. Versant Capital Management Inc purchased a new stake in Alkami Technology in the 1st quarter valued at about $36,000. Quarry LP purchased a new stake in Alkami Technology in the 4th quarter valued at about $61,000. Amalgamated Bank lifted its position in 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 buying an additional 704 shares during the last quarter. Finally, NBC Securities Inc. boosted its stake in Alkami Technology by 114,550.0% during the first quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock worth $60,000 after buying an additional 2,291 shares during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Price Performance

ALKT traded down $0.39 on Monday, hitting $24.89. 1,861,976 shares of the company were exchanged, compared to its average volume of 1,958,709. The firm has a 50-day moving average price of $26.48 and a two-hundred day moving average price of $27.48. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29.

Insider Buying and Selling

In other news, insider Douglas A. Linebarger sold 7,170 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $203,341.20. Following the completion of the transaction, the insider owned 238,172 shares in the company, valued at approximately $6,754,557.92. This represents a 2.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO W Bryan Hill sold 20,365 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total transaction of $577,551.40. Following the completion of the sale, the chief financial officer directly owned 430,255 shares of the company's stock, valued at approximately $12,202,031.80. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 1,396,162 shares of company stock worth $29,692,440 and sold 27,690 shares worth $785,288. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ALKT shares. JMP Securities reissued a "market outperform" rating and issued a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. Lake Street Capital cut their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC decreased their price target on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. started coverage on Alkami Technology in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.