Blair William & Co. IL Acquires New Holdings in Alkami Technology, Inc. $ALKT

Key Points

• Blair William & Co. IL has acquired a new position in Alkami Technology, purchasing 11,794 shares valued at approximately $355,000 during the 2nd quarter.
• Several institutional investors have significantly increased their stakes in Alkami Technology, with Harbor Capital Advisors raising its position by 370.5% to 63,660 shares worth $1,919,000.
• Analysts currently rate Alkami Technology with a consensus of "Moderate Buy" and an average price target of $39.25, despite a recent "sell" rating from Weiss Ratings.

Blair William & Co. IL purchased a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 11,794 shares of the company's stock, valued at approximately $355,000.

Other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its position in Alkami Technology by 370.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 63,660 shares of the company's stock worth $1,919,000 after buying an additional 50,131 shares during the period. George Kaiser Family Foundation bought a new position in Alkami Technology in the 1st quarter worth approximately $2,948,000. Amalgamated Bank increased its position in 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. Vanguard Group Inc. increased its position in Alkami Technology by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock worth $208,676,000 after buying an additional 501,722 shares during the period. Finally, Corebridge Financial Inc. increased its position in Alkami Technology by 12.6% in the 1st quarter. Corebridge Financial Inc. now owns 29,714 shares of the company's stock worth $780,000 after buying an additional 3,325 shares during the period. 54.97% of the stock is owned by institutional investors.

Alkami Technology Price Performance

Shares of ALKT stock opened at $22.17 on Friday. The stock's fifty day simple moving average is $24.34 and its 200 day simple moving average is $26.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -58.34 and a beta of 0.57. Alkami Technology, Inc. has a one year low of $19.94 and a one year high of $42.29.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Alkami Technology presently has a consensus rating of "Moderate Buy" and an average price target of $39.25.

Insider Activity at Alkami Technology

In related news, CAO Prerna Sachdeva sold 2,967 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the sale, the chief accounting officer owned 66,061 shares of the company's stock, valued at $1,635,670.36. The trade was a 4.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Atlantic Genpar (Bermu General acquired 229,391 shares of Alkami Technology stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $22.44 per share, for a total transaction of $5,147,534.04. Following the purchase, the director owned 12,033,436 shares of the company's stock, valued at approximately $270,030,303.84. This represents a 1.94% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,396,162 shares of company stock valued at $29,692,440 in the last 90 days. 18.10% of the stock is owned by corporate insiders.

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.

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