Alkami Technology, Inc. $ALKT Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its investment in Alkami Technology, Inc. by 35.3%, owning 220,000 shares worth approximately $5.78 million as of the latest filing.
• Insider transactions revealed CFO W Bryan Hill and insider Douglas A. Linebarger sold shares on June 2nd, with total values of $577,551.40 and $203,341.20 respectively, indicating a decrease in their ownership positions.
• Alkami Technology's stock has an average rating of "Moderate Buy" from analysts, with a consensus price target of $39.25, despite some analysts reducing their price forecasts recently.

Caisse DE Depot ET Placement DU Quebec increased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 35.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,000 shares of the company's stock after purchasing an additional 57,358 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.21% of Alkami Technology worth $5,775,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. George Kaiser Family Foundation acquired a new stake in Alkami Technology in the first quarter valued at about $2,948,000. Amalgamated Bank lifted its position in 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. Vanguard Group Inc. lifted its position in Alkami Technology by 6.7% in the first quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock valued at $208,676,000 after purchasing an additional 501,722 shares during the period. GAMMA Investing LLC lifted its position in Alkami Technology by 1,386.9% in the first quarter. GAMMA Investing LLC now owns 10,973 shares of the company's stock valued at $288,000 after purchasing an additional 10,235 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in 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 purchasing an additional 1,166 shares during the period. Institutional investors and hedge funds own 54.97% of the company's stock.

Insiders Place Their Bets

In other news, Director Atlantic Genpar (Bermu General bought 650,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average price of $20.70 per share, with a total value of $13,455,000.00. Following the purchase, the director owned 11,287,274 shares of the company's stock, valued at $233,646,571.80. This trade represents a 6.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have bought 1,396,162 shares of company stock valued at $29,692,440. Insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. initiated coverage on shares of Alkami Technology in a research report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Alkami Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

Alkami Technology Price Performance

ALKT stock traded down $0.89 during trading on Tuesday, hitting $24.71. The stock had a trading volume of 732,731 shares, compared to its average volume of 1,203,554. The company's 50 day moving average price is $26.16 and its two-hundred day moving average price is $27.13. Alkami Technology, Inc. has a 1-year low of $19.94 and a 1-year high of $42.29. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -64.82 and a beta of 0.58. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68.

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.