GW&K Investment Management LLC Takes Position in Alkami Technology, Inc. (NASDAQ:ALKT)

GW&K Investment Management LLC acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 203,050 shares of the company's stock, valued at approximately $5,330,000. GW&K Investment Management LLC owned approximately 0.20% of Alkami Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bosun Asset Management LLC lifted its stake in Alkami Technology by 1.4% in the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after acquiring an additional 313 shares in the last quarter. Perkins Coie Trust Co raised its holdings in shares of Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Alkami Technology by 50.8% in the first 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 last quarter. Principal Financial Group Inc. lifted its position in shares of Alkami Technology by 2.7% in the first quarter. Principal Financial Group Inc. now owns 31,892 shares of the company's stock worth $837,000 after purchasing an additional 850 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Alkami Technology by 2.0% during the first 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 last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Stock Performance

Alkami Technology stock traded down $0.16 during midday trading on Friday, reaching $27.26. 763,444 shares of the company's stock were exchanged, compared to its average volume of 1,059,513. The stock's 50-day simple moving average is $29.06 and its 200 day simple moving average is $29.27. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -71.74 and a beta of 0.59. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.75 and a current ratio of 2.75. Alkami Technology, Inc. has a 52 week low of $21.70 and a 52 week high of $42.29.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays lowered their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. started coverage on Alkami Technology in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 target price on the stock. Needham & Company LLC reduced their price target on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Lake Street Capital lowered their price target on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, JMP Securities reiterated a "market outperform" rating and set a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.25.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 20,365 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $577,551.40. Following the transaction, the chief financial officer directly owned 430,255 shares in the company, valued at $12,202,031.80. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph P. Payne bought 8,200 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were bought at an average price of $30.46 per share, with a total value of $249,772.00. Following the purchase, the director owned 21,128 shares in the company, valued at $643,558.88. The trade was a 63.43% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 27,690 shares of company stock worth $785,288. 18.10% of the stock is owned by company insiders.

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.