Federated Hermes Inc. Has $4.28 Million Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Key Points

• Federated Hermes Inc. reduced its stake in Alkami Technology by 18.6%, owning 163,044 shares after selling 37,241 shares, worth $4.28 million as of its latest SEC filing.
• Alkami Technology's stock has seen a recent increase, trading up 8.8% at $22.30, while the company has a market capitalization of $2.32 billion.
• Multiple analysts have issued ratings for Alkami Technology, with most ratings being "buy", and a consensus target price of $39.25.

Federated Hermes Inc. reduced its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163,044 shares of the company's stock after selling 37,241 shares during the period. Federated Hermes Inc. owned 0.16% of Alkami Technology worth $4,280,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ALKT. Perkins Coie Trust Co grew its stake in 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 buying an additional 500 shares in the last quarter. Versant Capital Management Inc bought a new position in Alkami Technology in the first quarter worth approximately $36,000. Quarry LP bought a new stake in shares of Alkami Technology during the 4th quarter valued at $61,000. Amalgamated Bank raised its position in shares of Alkami Technology by 50.8% during the 1st 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. Finally, NBC Securities Inc. grew its stake in Alkami Technology by 114,550.0% during the first quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock valued at $60,000 after acquiring an additional 2,291 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Alkami Technology Price Performance

ALKT stock traded down $0.74 during trading on Tuesday, hitting $21.56. The stock had a trading volume of 1,513,758 shares, compared to its average volume of 1,354,873. The company's 50 day moving average price is $28.41 and its two-hundred day moving average price is $28.79. Alkami Technology, Inc. has a 1-year low of $20.42 and a 1-year high of $42.29. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -56.74 and a beta of 0.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALKT. Barclays dropped their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. Needham & Company LLC dropped their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Lake Street Capital dropped their price target on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a research note on Wednesday, June 18th. They set 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Alkami Technology has a consensus rating of "Moderate Buy" and a consensus price target of $39.25.

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 20,365 shares of the stock in a transaction dated Monday, June 2nd. The stock was 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 directly owned 430,255 shares of the company's stock, valued at approximately $12,202,031.80. This represents a 4.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 7,170 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $203,341.20. Following the sale, the insider directly owned 238,172 shares of the company's stock, valued at $6,754,557.92. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,690 shares of company stock valued at $785,288 over the last three months. Company insiders own 18.10% of the company's stock.

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.