Alkami Technology, Inc. $ALKT Shares Sold by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC reduced its stake in Alkami Technology, Inc. by 12.7%, owning approximately $47.98 million worth of shares after selling 265,621 shares.
• Analysts have set a consensus price target of $39.25 for Alkami Technology, with ratings primarily categorized as "Buy" or "Market Outperform."
• Insider transactions include a significant purchase of 650,000 shares by Director Atlantic Genpar, increasing their ownership by 6.11% in the company.

Driehaus Capital Management LLC decreased its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,827,805 shares of the company's stock after selling 265,621 shares during the period. Driehaus Capital Management LLC owned 1.77% of Alkami Technology worth $47,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. George Kaiser Family Foundation purchased a new stake in Alkami Technology in the 1st quarter worth about $2,948,000. Amalgamated Bank raised 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 purchasing an additional 704 shares during the period. Vanguard Group Inc. raised 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 purchasing an additional 501,722 shares during the period. GAMMA Investing LLC raised its position in Alkami Technology by 1,386.9% in the 1st quarter. GAMMA Investing LLC now owns 10,973 shares of the company's stock worth $288,000 after purchasing an additional 10,235 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in Alkami Technology by 2.0% in 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 hedge funds and other institutional investors.

Alkami Technology Stock Up 1.3%

Shares of NASDAQ ALKT traded up $0.32 during midday trading on Wednesday, reaching $24.88. 304,417 shares of the company's stock traded hands, compared to its average volume of 1,202,319. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17. The stock's 50 day simple moving average is $26.04 and its 200-day simple moving average is $27.11. Alkami Technology, Inc. has a one year low of $19.94 and a one year high of $42.29. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -65.41 and a beta of 0.58.

Insider Activity

In other Alkami Technology news, Director Atlantic Genpar (Bermu General acquired 650,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $20.70 per share, for a total transaction of $13,455,000.00. Following the completion of the purchase, the director owned 11,287,274 shares in the company, valued at approximately $233,646,571.80. This trade represents a 6.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have purchased 1,396,162 shares of company stock worth $29,692,440 in the last 90 days. 18.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.