Rhumbline Advisers Increases Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Alkami Technology by 12.8% in the fourth quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock valued at $273,187,000 after purchasing an additional 843,129 shares during the period. Alliancebernstein L.P. increased its holdings in Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock worth $99,305,000 after buying an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC acquired a new position in Alkami Technology in the 4th quarter worth approximately $78,878,000. Driehaus Capital Management LLC raised its position in Alkami Technology by 16.7% during the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after buying an additional 299,728 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Alkami Technology by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock valued at $66,457,000 after acquiring an additional 6,970 shares during the period. 54.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ALKT shares. Needham & Company LLC cut their price objective 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. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Barclays lowered their target price on 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. Finally, Stephens upgraded 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

Alkami Technology Price Performance

Shares of Alkami Technology stock traded down $0.14 on Friday, hitting $28.21. The company's stock had a trading volume of 614,881 shares, compared to its average volume of 1,093,568. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -74.22 and a beta of 0.58. The firm has a fifty day moving average price of $28.04 and a 200-day moving average price of $30.99. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.75 and a current ratio of 2.75. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 7,170 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $203,341.20. Following the transaction, the insider now owns 238,172 shares in the company, valued at approximately $6,754,557.92. This trade represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through 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 now owns 430,255 shares of the company's stock, valued at $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. Insiders sold a total of 27,690 shares of company stock valued at $785,288 in the last three months. 18.10% of the stock is currently owned by company insiders.

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.