Alkami Technology, Inc. $ALKT Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE reduced its holdings in Alkami Technology, Inc. by 50% during the first quarter, now owning 237,837 shares valued at $6.24 million.
• Multiple hedge funds have recently increased their stakes in Alkami Technology, indicating growing institutional interest, which now accounts for 54.97% of the company's stock ownership.
• Alkami Technology's stock is currently rated a Moderate Buy by analysts, with a consensus target price of $39.25, despite price targets being adjusted downwards by some firms.

Axiom Investors LLC DE decreased its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 50.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,837 shares of the company's stock after selling 237,833 shares during the quarter. Axiom Investors LLC DE owned approximately 0.23% of Alkami Technology worth $6,243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ALKT. Bosun Asset Management LLC lifted its stake in Alkami Technology by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after buying an additional 313 shares in the last quarter. Perkins Coie Trust Co raised its holdings in shares of Alkami Technology by 62.5% during the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Covestor Ltd lifted its position in shares of Alkami Technology by 18.8% in the first quarter. Covestor Ltd now owns 3,252 shares of the company's stock valued at $85,000 after acquiring an additional 514 shares in the last quarter. Amalgamated Bank lifted its position 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 acquiring an additional 704 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Alkami Technology by 7.4% in the first quarter. US Bancorp DE now owns 12,229 shares of the company's stock worth $321,000 after acquiring an additional 841 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. initiated coverage on Alkami Technology in a report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price objective on the stock. Lake Street Capital dropped their target price on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Needham & Company LLC dropped their target price 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 reaffirmed a "market outperform" rating and set a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $39.25.

Alkami Technology Trading Up 2.0%

NASDAQ:ALKT traded up $0.49 on Wednesday, reaching $25.27. The company's stock had a trading volume of 731,332 shares, compared to its average volume of 1,210,363. Alkami Technology, Inc. has a 12-month low of $19.94 and a 12-month high of $42.29. The stock has a 50 day moving average price of $26.40 and a 200 day moving average price of $27.39. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -66.50 and a beta of 0.57. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17.

Insider Activity at Alkami Technology

In other news, CFO W Bryan Hill sold 20,365 shares of the business's 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 $577,551.40. Following the sale, the chief financial officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Atlantic Genpar (Bermu General acquired 229,391 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $22.44 per share, for a total transaction of $5,147,534.04. Following the completion of the acquisition, the director owned 12,033,436 shares in the company, valued at approximately $270,030,303.84. The trade was a 1.94% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,396,162 shares of company stock worth $29,692,440 and have sold 27,690 shares worth $785,288. 18.10% of the stock is owned by insiders.

About Alkami Technology

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.