Massachusetts Financial Services Co. MA Buys 328,945 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Massachusetts Financial Services Co. MA lifted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 27.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,533,526 shares of the company's stock after acquiring an additional 328,945 shares during the period. Massachusetts Financial Services Co. MA owned 1.49% of Alkami Technology worth $40,255,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bosun Asset Management LLC lifted its position in shares of Alkami Technology by 1.4% in the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock worth $849,000 after buying an additional 313 shares in the last quarter. Perkins Coie Trust Co lifted its position in shares of 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 buying an additional 500 shares in the last quarter. Amalgamated Bank lifted its position in shares of Alkami Technology by 50.8% in the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after buying an additional 704 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Alkami Technology by 2.7% in the first quarter. Principal Financial Group Inc. now owns 31,892 shares of the company's stock worth $837,000 after buying an additional 850 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Alkami Technology by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company's stock worth $1,535,000 after buying an additional 1,166 shares in the last quarter. Institutional investors own 54.97% of the company's stock.

Insider Transactions at Alkami Technology

In other news, Director Joseph P. Payne acquired 8,200 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of $30.46 per share, with a total value of $249,772.00. Following the completion of the purchase, the director directly owned 21,128 shares in the company, valued at $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 20,365 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $577,551.40. Following the completion of the transaction, the chief financial officer directly owned 430,255 shares in the company, valued at approximately $12,202,031.80. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,690 shares of company stock worth $785,288. 18.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALKT. Lake Street Capital decreased their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. began coverage on Alkami Technology in a research report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price objective on the stock. JMP Securities restated a "market outperform" rating and set a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. Barclays decreased 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, Needham & Company LLC decreased their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of "Moderate Buy" and an average price target of $39.25.

Alkami Technology Trading Down 0.4%

Shares of NASDAQ ALKT traded down $0.12 during midday trading on Friday, hitting $27.81. The company's stock had a trading volume of 754,696 shares, compared to its average volume of 928,540. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 1.23. The business's 50 day moving average is $29.39 and its two-hundred day moving average is $29.67. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month high of $42.29.

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.