Alkami Technology, Inc. $ALKT Stock Position Lifted by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd significantly increased its holdings in Alkami Technology, Inc. by 236.9% during the first quarter, bringing its total investment to approximately $735,000 with 28,015 shares owned.
• Insiders at Alkami Technology have been active in trading, with a director purchasing 229,391 shares for over $5 million, while the CFO sold 20,366 shares in a transaction worth over $500,000, indicating varied confidence levels among company executives.
• Recent stock analysis shows a consensus rating of "Moderate Buy" for Alkami Technology, with six analysts recommending a Buy rating and a target price of $39.25.

Dynamic Technology Lab Private Ltd grew its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 236.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,015 shares of the company's stock after acquiring an additional 19,700 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Alkami Technology were worth $735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ALKT. Select Equity Group L.P. lifted its position in Alkami Technology by 706.8% during the first quarter. Select Equity Group L.P. now owns 526,026 shares of the company's stock worth $13,808,000 after buying an additional 460,827 shares during the period. Petrus Trust Company LTA lifted its position in Alkami Technology by 17.4% during the first quarter. Petrus Trust Company LTA now owns 37,943 shares of the company's stock worth $996,000 after buying an additional 5,634 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Alkami Technology during the first quarter worth about $2,439,000. Millennium Management LLC lifted its position in Alkami Technology by 64.7% during the first quarter. Millennium Management LLC now owns 698,677 shares of the company's stock worth $18,340,000 after buying an additional 274,439 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alkami Technology by 19.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company's stock worth $947,000 after buying an additional 5,884 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Stock Up 0.8%

Shares of ALKT stock traded up $0.21 during trading hours on Monday, reaching $25.50. The company had a trading volume of 219,516 shares, compared to its average volume of 1,198,688. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29. The company has a market capitalization of $2.65 billion, a P/E ratio of -67.09 and a beta of 0.58. The stock's fifty day simple moving average is $25.30 and its 200 day simple moving average is $26.76.

Insider Activity

In other news, CAO Prerna Sachdeva sold 2,967 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the completion of the sale, the chief accounting officer owned 66,061 shares in the company, valued at approximately $1,635,670.36. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO W Bryan Hill sold 20,366 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value of $504,262.16. Following the completion of the sale, the chief financial officer owned 409,889 shares of the company's stock, valued at approximately $10,148,851.64. This trade represents a 4.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,396,162 shares of company stock worth $29,692,440. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. started coverage on 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. According to data from MarketBeat.com, the stock 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.