Herald Investment Management Ltd Raises Stake in Alkami Technology, Inc. $ALKT

Key Points

• Herald Investment Management Ltd increased its stake in Alkami Technology by 20.0%, owning 180,000 shares valued at approximately $5.4 million, making it the 28th largest holding in their portfolio.
• In addition to Herald, other institutional investors such as Vanguard Group and Ameriprise Financial also raised their stakes in Alkami Technology, indicating significant institutional interest in the company.
• Alkami Technology currently has a consensus rating of "Moderate Buy" from analysts, with a target price set at $39.25, despite some analysts issuing a "sell" rating.

Herald Investment Management Ltd lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,000 shares of the company's stock after purchasing an additional 30,000 shares during the period. Alkami Technology comprises 0.8% of Herald Investment Management Ltd's portfolio, making the stock its 28th largest holding. Herald Investment Management Ltd owned approximately 0.17% of Alkami Technology worth $5,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ALKT. Vanguard Group Inc. boosted its holdings in Alkami Technology by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock worth $208,676,000 after buying an additional 501,722 shares during the period. Alliancebernstein L.P. raised its holdings in Alkami Technology by 5.8% during the first quarter. Alliancebernstein L.P. now owns 2,865,423 shares of the company's stock valued at $75,217,000 after acquiring an additional 158,094 shares during the period. Champlain Investment Partners LLC lifted its position in shares of Alkami Technology by 64.0% in the first quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company's stock valued at $67,805,000 after acquiring an additional 1,008,025 shares in the last quarter. Riverbridge Partners LLC boosted its stake in shares of Alkami Technology by 24.4% in the second quarter. Riverbridge Partners LLC now owns 2,098,790 shares of the company's stock worth $63,258,000 after acquiring an additional 412,299 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Alkami Technology by 61.6% in the first quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company's stock worth $51,242,000 after acquiring an additional 743,884 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. began coverage on Alkami Technology in a research note on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Alkami Technology currently has a consensus rating of "Moderate Buy" and an average target price of $39.25.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General purchased 650,000 shares of Alkami Technology stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $20.70 per share, with a total value of $13,455,000.00. Following the transaction, the director owned 11,287,274 shares in the company, valued at approximately $233,646,571.80. The trade was a 6.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Prerna Sachdeva sold 2,967 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total transaction of $73,462.92. Following the completion of the transaction, the chief accounting officer owned 66,061 shares of the company's stock, valued at $1,635,670.36. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 1,396,162 shares of company stock worth $29,692,440. 18.10% of the stock is currently owned by company insiders.

Alkami Technology Price Performance

ALKT opened at $24.59 on Monday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. The business's fifty day simple moving average is $24.28 and its 200-day simple moving average is $26.61. Alkami Technology, Inc. has a 12-month low of $19.94 and a 12-month high of $42.29. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -64.71 and a beta of 0.57.

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.

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