Edgestream Partners L.P. Grows Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Edgestream Partners L.P. raised its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 143.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,228 shares of the company's stock after purchasing an additional 99,024 shares during the quarter. Edgestream Partners L.P. owned approximately 0.16% of Alkami Technology worth $4,416,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Perkins Coie Trust Co grew its position in shares of Alkami Technology by 62.5% in the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock worth $34,000 after buying an additional 500 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Alkami Technology in the 1st quarter worth about $36,000. Amalgamated Bank grew its position in shares of Alkami Technology by 50.8% in the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after buying an additional 704 shares during the period. NBC Securities Inc. grew its position in shares of Alkami Technology by 114,550.0% in the 1st 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. Finally, Quarry LP purchased a new stake in shares of Alkami Technology in the 4th quarter worth about $61,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 7,170 shares of the stock in a transaction that occurred 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 transaction, the insider owned 238,172 shares in the company, valued at $6,754,557.92. This represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph P. Payne acquired 8,200 shares of the stock in a transaction dated Thursday, May 15th. The stock was acquired at an average price of $30.46 per share, for a total transaction of $249,772.00. Following the purchase, the director directly owned 21,128 shares in the company, valued at approximately $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 27,690 shares of company stock worth $785,288. Company insiders own 18.10% of the company's stock.

Alkami Technology Stock Performance

ALKT traded down $0.09 during midday trading on Friday, hitting $27.84. 116,677 shares of the company traded hands, compared to its average volume of 924,348. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $2.87 billion, a PE ratio of -73.29 and a beta of 0.59. The company's 50-day moving average is $29.39 and its 200 day moving average is $29.67. Alkami Technology, Inc. has a 52 week low of $21.70 and a 52 week high of $42.29.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALKT. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a research report on Thursday, May 1st. 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 on the stock. Barclays dropped their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Lake Street Capital dropped their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Needham & Company LLC dropped their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.