Alkami Technology, Inc. (NASDAQ:ALKT) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised 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 13F filing with the SEC. The fund owned 10,973 shares of the company's stock after purchasing an additional 10,235 shares during the quarter. GAMMA Investing LLC's holdings in Alkami Technology were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Alkami Technology by 86.8% in the fourth quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company's stock worth $10,595,000 after acquiring an additional 134,198 shares during the period. Bank of America Corp DE boosted its holdings in Alkami Technology by 7.1% in the fourth quarter. Bank of America Corp DE now owns 229,629 shares of the company's stock valued at $8,423,000 after purchasing an additional 15,293 shares during the last quarter. Rhumbline Advisers grew its position in Alkami Technology by 16.9% during the 4th quarter. Rhumbline Advisers now owns 75,352 shares of the company's stock worth $2,764,000 after purchasing an additional 10,891 shares during the period. Geode Capital Management LLC raised its stake in shares of Alkami Technology by 15.8% during the 4th quarter. Geode Capital Management LLC now owns 1,426,038 shares of the company's stock valued at $52,320,000 after buying an additional 194,051 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Alkami Technology by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock valued at $273,187,000 after buying an additional 843,129 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Price Performance

NASDAQ ALKT traded down $1.46 on Wednesday, hitting $29.35. The company had a trading volume of 1,484,746 shares, compared to its average volume of 891,546. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.75 and a quick ratio of 2.75. The company's fifty day moving average price is $28.31 and its 200-day moving average price is $30.72. The company has a market capitalization of $3.02 billion, a PE ratio of -77.24 and a beta of 0.58. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month high of $42.29.

Analyst Ratings Changes

ALKT has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Needham & Company LLC cut their target price on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a report on Thursday, March 13th. JMP Securities restated a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research 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 objective for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Alkami Technology has an average rating of "Moderate Buy" and an average price target of $39.25.

Insider Activity

In related news, Director Joseph P. Payne purchased 8,200 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost of $30.46 per share, with a total value of $249,772.00. Following the purchase, the director now owns 21,128 shares of the company's stock, valued at $643,558.88. This represents a 63.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 7,170 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $203,341.20. Following the sale, the insider now directly owns 238,172 shares of the company's stock, valued at $6,754,557.92. The trade was a 2.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,690 shares of company stock worth $785,288 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

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.