Diversified Trust Co grew its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 65.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,791 shares of the company's stock after purchasing an additional 10,575 shares during the period. Diversified Trust Co's holdings in Alkami Technology were worth $703,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology during the 4th quarter worth about $34,000. Perkins Coie Trust Co raised its stake in shares of Alkami Technology by 62.5% in the 1st 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 in the last quarter. Versant Capital Management Inc bought a new position in Alkami Technology during the first quarter worth $36,000. Quarry LP bought a new stake in shares of Alkami Technology in the 4th quarter worth approximately $61,000. Finally, NBC Securities Inc. boosted its stake in shares of Alkami Technology by 114,550.0% in the 1st quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock valued at $60,000 after purchasing an additional 2,291 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on ALKT. 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. Barclays dropped their price objective on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Lake Street Capital lowered their price target 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 on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.25.
Check Out Our Latest Research Report on Alkami Technology
Insider Buying and Selling at Alkami Technology
In other Alkami Technology news, insider Douglas A. Linebarger sold 7,170 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $203,341.20. Following the completion of the sale, the insider owned 238,172 shares of the company's stock, valued at approximately $6,754,557.92. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph P. Payne acquired 8,200 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $30.46 per share, with a total value of $249,772.00. Following the completion of the purchase, the director owned 21,128 shares in the company, valued at $643,558.88. This trade represents a 63.43% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 27,690 shares of company stock worth $785,288 in the last three months. 18.10% of the stock is currently owned by company insiders.
Alkami Technology Stock Up 4.8%
ALKT stock traded up $1.40 during midday trading on Thursday, hitting $30.63. The company's stock had a trading volume of 619,664 shares, compared to its average volume of 907,234. The company has a market cap of $3.15 billion, a PE ratio of -80.59 and a beta of 0.59. The firm's 50-day moving average is $28.88 and its 200-day moving average is $30.39. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 1.23.
About Alkami Technology
(
Free Report)
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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