Edgestream Partners L.P. Buys 99,024 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Edgestream Partners L.P. increased its holdings 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,228 shares of the company's stock after purchasing an additional 99,024 shares during the quarter. Edgestream Partners L.P. owned 0.16% of Alkami Technology worth $4,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Bosun Asset Management LLC boosted its holdings in Alkami Technology by 1.4% during the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after acquiring an additional 313 shares during the period. 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 period. 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 period. Principal Financial Group Inc. grew its holdings in Alkami Technology by 2.7% during the first quarter. Principal Financial Group Inc. now owns 31,892 shares of the company's stock worth $837,000 after acquiring an additional 850 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Alkami Technology by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company's stock valued at $1,535,000 after acquiring an additional 1,166 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Performance

NASDAQ ALKT traded up $0.36 during trading hours on Thursday, reaching $27.95. The company's stock had a trading volume of 566,162 shares, compared to its average volume of 924,013. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 1.23. The business has a 50-day simple moving average of $29.42 and a 200 day simple moving average of $29.73. Alkami Technology, Inc. has a 52 week low of $21.70 and a 52 week high of $42.29. The stock has a market cap of $2.88 billion, a PE ratio of -73.01 and a beta of 0.59.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Lake Street Capital cut their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC dropped their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Barclays decreased their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. JMP Securities reiterated a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. began coverage on Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price target for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $39.25.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 7,170 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 $203,341.20. Following the completion of the transaction, the insider owned 238,172 shares of the company's stock, valued at $6,754,557.92. The trade was a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO W Bryan Hill sold 20,365 shares of the stock in a transaction dated 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 owned 430,255 shares of the company's stock, valued at approximately $12,202,031.80. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,690 shares of company stock valued at $785,288. Corporate insiders own 18.10% of the company's stock.

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.