Alkami Technology, Inc. $ALKT Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALKT. Perkins Coie Trust Co increased its stake in Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock worth $34,000 after purchasing an additional 500 shares during the period. Versant Capital Management Inc bought a new stake in shares of Alkami Technology in the first quarter valued at about $36,000. 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 acquiring an additional 704 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Alkami Technology in the first quarter valued at about $59,000. Finally, NBC Securities Inc. raised its holdings in shares of Alkami Technology by 114,550.0% in the first quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock valued at $60,000 after acquiring an additional 2,291 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 20,366 shares of Alkami Technology stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total transaction of $504,262.16. Following the completion of the sale, the chief financial officer owned 409,889 shares of the company's stock, valued at $10,148,851.64. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Prerna Sachdeva sold 2,967 shares of Alkami Technology stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the sale, the chief accounting officer directly owned 66,061 shares of the company's stock, valued at $1,635,670.36. This trade represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders bought 1,396,162 shares of company stock valued at $29,692,440 over the last quarter. 18.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. started coverage on Alkami Technology in a report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Alkami Technology currently has a consensus rating of "Moderate Buy" and an average target price of $39.25.

Alkami Technology Stock Performance

Shares of Alkami Technology stock traded down $0.01 on Friday, reaching $25.29. 746,937 shares of the stock were exchanged, compared to its average volume of 1,310,287. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -66.55 and a beta of 0.58. The business has a 50 day moving average price of $25.30 and a two-hundred day moving average price of $26.77.

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.