Knights of Columbus Asset Advisors LLC Acquires Shares of 30,666 Alkami Technology, Inc. $ALKT

Key Points

• Knights of Columbus Asset Advisors LLC acquired 30,666 shares of Alkami Technology, Inc. for approximately $924,000 in the second quarter, reflecting ongoing interest from institutional investors in the company.
• In recent insider trading activity, CAO Prerna Sachdeva and CFO W Bryan Hill both sold shares, resulting in a decrease of 4.30% and 4.73% in their respective ownership stakes.
• Analysts have mixed opinions on Alkami Technology with six recommending a "Buy," two a "Hold," and one a "Sell," assigning an average target price of $39.25.

Knights of Columbus Asset Advisors LLC acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 30,666 shares of the company's stock, valued at approximately $924,000.

Other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in Alkami Technology by 50.8% in the 1st 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 period. Summit Securities Group LLC bought a new stake in Alkami Technology in the 1st quarter valued at about $59,000. NBC Securities Inc. boosted its holdings in Alkami Technology by 114,550.0% in the 1st quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock valued at $60,000 after purchasing an additional 2,291 shares during the period. Advisors Asset Management Inc. boosted its holdings in Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company's stock valued at $64,000 after purchasing an additional 594 shares during the period. Finally, KBC Group NV bought a new stake in Alkami Technology in the 1st quarter valued at about $73,000. Institutional investors own 54.97% of the company's stock.

Insider Activity at Alkami Technology

In other Alkami Technology news, CAO Prerna Sachdeva sold 2,967 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value of $73,462.92. Following the sale, the chief accounting officer owned 66,061 shares in the company, valued at $1,635,670.36. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO W Bryan Hill sold 20,366 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 in the company, valued at $10,148,851.64. This represents a 4.73% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 1,396,162 shares of company stock valued at $29,692,440 in the last quarter. Insiders own 18.10% of the company's stock.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $23.41 on Wednesday. The company has a 50 day moving average of $24.14 and a 200-day moving average of $26.57. Alkami Technology, Inc. has a 1-year low of $19.94 and a 1-year high of $42.29. 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 company has a market cap of $2.44 billion, a PE ratio of -61.61 and a beta of 0.57.

Analysts Set New Price Targets

A number of analysts have issued reports on ALKT shares. JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a report on Saturday, September 27th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alkami Technology presently has an average rating of "Moderate Buy" and a consensus target price of $39.25.

About Alkami Technology

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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