Mackenzie Financial Corp Has $972,000 Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Mackenzie Financial Corp lifted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 244.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,509 shares of the company's stock after acquiring an additional 18,823 shares during the period. Mackenzie Financial Corp's holdings in Alkami Technology were worth $972,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Alkami Technology by 12.8% in the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after purchasing an additional 843,129 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Alkami Technology by 5,747.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after purchasing an additional 2,661,027 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth approximately $78,878,000. Driehaus Capital Management LLC increased its position in Alkami Technology by 16.7% during the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock valued at $76,787,000 after buying an additional 299,728 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Alkami Technology by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock valued at $66,457,000 after acquiring an additional 6,970 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Stock Performance

ALKT traded up $1.12 during trading on Wednesday, hitting $30.06. The stock had a trading volume of 1,061,657 shares, compared to its average volume of 862,326. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a market capitalization of $3.10 billion, a P/E ratio of -63.96 and a beta of 0.56. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. The company's 50-day moving average price is $27.14 and its 200 day moving average price is $31.78.

Insider Activity at Alkami Technology

In other news, Director Joseph P. Payne bought 8,200 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of $30.46 per share, for a total transaction of $249,772.00. Following the transaction, the director now owns 21,128 shares in the company, valued at $643,558.88. The trade was a 63.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO W Bryan Hill sold 20,365 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $577,551.40. Following the transaction, the chief financial officer now owns 430,255 shares of the company's stock, valued at $12,202,031.80. This represents a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,690 shares of company stock worth $785,288. 18.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALKT. Needham & Company LLC dropped their target price on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. JMP Securities reiterated a "market outperform" rating and issued a $46.00 price target on shares of Alkami Technology in a report on Thursday, May 1st. Barclays dropped their price objective on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, Lake Street Capital decreased their price target on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.88.

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.