GAMMA Investing LLC Buys 10,235 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

GAMMA Investing LLC increased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 1,386.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,973 shares of the company's stock after buying an additional 10,235 shares during the period. GAMMA Investing LLC's holdings in Alkami Technology were worth $288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ALKT. Essex Investment Management Co. LLC purchased a new position in Alkami Technology during the 4th quarter valued at about $34,000. Versant Capital Management Inc purchased a new stake in shares of Alkami Technology in the 1st quarter worth approximately $36,000. Quarry LP bought a new position in shares of Alkami Technology during the fourth quarter valued at approximately $61,000. Neo Ivy Capital Management bought a new position in shares of Alkami Technology during the fourth quarter valued at approximately $96,000. Finally, Tower Research Capital LLC TRC increased its holdings in Alkami Technology by 73.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,031 shares of the company's stock valued at $148,000 after buying an additional 1,710 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 7,170 shares of Alkami Technology 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 now owns 238,172 shares of the company's stock, valued at approximately $6,754,557.92. The trade was a 2.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 20,365 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 $577,551.40. Following the completion of the transaction, the chief financial officer now owns 430,255 shares of the company's stock, valued at approximately $12,202,031.80. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,690 shares of company stock valued at $785,288. Insiders own 18.10% of the company's stock.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $27.95 on Friday. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29. The company has a market cap of $2.88 billion, a PE ratio of -73.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.75 and a current ratio of 2.75. The business has a 50-day simple moving average of $28.11 and a two-hundred day simple moving average of $30.86.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Barclays decreased their price objective on 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. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price on the stock in a research note on Thursday, March 13th. JMP Securities reiterated a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a research report on Wednesday. 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 stock. According to data from MarketBeat, Alkami Technology has a consensus rating of "Moderate Buy" and an average target price of $39.25.

About Alkami Technology

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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