Rhumbline Advisers Has $2.32 Million Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Rhumbline Advisers boosted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 17.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,430 shares of the company's stock after purchasing an additional 13,078 shares during the period. Rhumbline Advisers owned about 0.09% of Alkami Technology worth $2,321,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Alkami Technology by 86.8% during the 4th quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock worth $10,595,000 after buying an additional 134,198 shares during the period. Bank of America Corp DE grew its position in shares of Alkami Technology by 7.1% during the 4th quarter. Bank of America Corp DE now owns 229,629 shares of the company's stock worth $8,423,000 after buying an additional 15,293 shares during the period. Geode Capital Management LLC grew its position in shares of Alkami Technology by 15.8% during the 4th quarter. Geode Capital Management LLC now owns 1,426,038 shares of the company's stock worth $52,320,000 after buying an additional 194,051 shares during the period. Vanguard Group Inc. grew its position in shares of Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after buying an additional 843,129 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Alkami Technology by 10.1% during the 4th quarter. Nuveen Asset Management LLC now owns 437,521 shares of the company's stock worth $16,048,000 after buying an additional 40,106 shares during the period. 54.97% of the stock is owned by institutional investors.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT traded down $0.36 on Tuesday, hitting $26.83. The company had a trading volume of 613,945 shares, compared to its average volume of 879,876. Alkami Technology, Inc. has a 1-year low of $21.70 and a 1-year high of $42.29. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -57.09 and a beta of 0.58. The stock has a 50 day moving average price of $27.85 and a 200 day moving average price of $31.11. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 7,170 shares of the company's stock in a transaction dated 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 now directly owns 238,172 shares in the company, valued at approximately $6,754,557.92. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph P. Payne purchased 8,200 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 21,128 shares of the company's stock, valued at $643,558.88. This represents a 63.43% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 27,690 shares of company stock worth $785,288 over the last ninety days. Insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALKT. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target for the company in a research report on Thursday, March 13th. Lake Street Capital lowered their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Barclays decreased their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Needham & Company LLC decreased their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, JMP Securities restated a "market outperform" rating and set a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Alkami Technology has an average rating of "Moderate Buy" and a consensus price target of $39.88.

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.