Jacobs Levy Equity Management Inc. reduced its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 402,288 shares of the company's stock after selling 17,604 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.39% of Alkami Technology worth $10,560,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whale Rock Capital Management LLC acquired a new stake in Alkami Technology during the 4th quarter valued at approximately $78,878,000. Praesidium Investment Management Company LLC acquired a new stake in Alkami Technology during the 1st quarter valued at approximately $40,223,000. Champlain Investment Partners LLC increased its position in Alkami Technology by 64.0% during the 1st quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company's stock valued at $67,805,000 after purchasing an additional 1,008,025 shares during the period. Ameriprise Financial Inc. increased its position in Alkami Technology by 61.6% during the 1st quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company's stock valued at $51,242,000 after purchasing an additional 743,884 shares during the period. Finally, Long Path Partners LP increased its position in Alkami Technology by 304.4% during the 1st quarter. Long Path Partners LP now owns 685,532 shares of the company's stock valued at $17,995,000 after purchasing an additional 516,034 shares during the period. 54.97% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. initiated coverage on shares of Alkami Technology in a research report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price for the company. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.
Check Out Our Latest Report on ALKT
Insiders Place Their Bets
In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 650,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $20.70 per share, for a total transaction of $13,455,000.00. Following the acquisition, the director owned 11,287,274 shares of the company's stock, valued at approximately $233,646,571.80. This represents a 6.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Prerna Sachdeva sold 2,967 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the transaction, the chief accounting officer owned 66,061 shares in the company, valued at $1,635,670.36. The trade was 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 acquired 1,396,162 shares of company stock worth $29,692,440. Corporate insiders own 18.10% of the company's stock.
Alkami Technology Price Performance
Alkami Technology stock opened at $25.23 on Monday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -66.39 and a beta of 0.58. Alkami Technology, Inc. has a 52-week low of $19.94 and a 52-week high of $42.29. The stock's 50 day moving average price is $25.76 and its two-hundred day moving average price is $26.91. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68.
Alkami Technology Company Profile
(
Free Report)
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.
Further Reading
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