Capital Fund Management S.A. Acquires Shares of 40,619 Alkami Technology, Inc. $ALKT

Key Points

• Capital Fund Management S.A. has made a new investment in Alkami Technology, Inc., acquiring approximately $1.07 million worth of stock in the first quarter.
• Vanguard Group Inc. significantly increased its holdings in Alkami Technology by 6.7%, now owning nearly 8 million shares valued at around $208.68 million.
• Alkami Technology's stock has a current market capitalization of $2.59 billion, with a 52-week price range between $19.94 and $42.29.

Capital Fund Management S.A. purchased a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 40,619 shares of the company's stock, valued at approximately $1,066,000.

Other institutional investors also recently added to or reduced their stakes in the company. 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% during the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after acquiring an additional 704 shares during the period. Vanguard Group Inc. increased its position in Alkami Technology by 6.7% during the first quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock worth $208,676,000 after acquiring an additional 501,722 shares during the period. GAMMA Investing LLC increased its position in Alkami Technology by 1,386.9% during the first quarter. GAMMA Investing LLC now owns 10,973 shares of the company's stock worth $288,000 after acquiring an additional 10,235 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Alkami Technology by 2.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company's stock worth $1,535,000 after purchasing an additional 1,166 shares during the period. 54.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $39.25.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General acquired 229,391 shares of the stock in a transaction dated Wednesday, August 13th. The shares were bought 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 in the company, valued at approximately $270,030,303.84. This trade represents a 1.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO W Bryan Hill sold 20,365 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer owned 430,255 shares in the company, 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. 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. Corporate insiders own 18.10% of the company's stock.

Alkami Technology Price Performance

NASDAQ ALKT traded down $0.09 on Friday, reaching $25.60. The company's stock had a trading volume of 869,982 shares, compared to its average volume of 1,727,468. Alkami Technology, Inc. has a 52 week low of $19.94 and a 52 week high of $42.29. The firm has a market cap of $2.66 billion, a PE ratio of -67.37 and a beta of 0.58. The business has a 50-day moving average price of $26.23 and a 200 day moving average price of $27.18. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17.

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.