Alkami Technology, Inc. $ALKT Shares Acquired by Northern Trust Corp

Northern Trust Corp raised its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 744,271 shares of the company's stock after buying an additional 92,165 shares during the period. Northern Trust Corp owned about 0.72% of Alkami Technology worth $19,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. George Kaiser Family Foundation purchased a new position in shares of Alkami Technology during the first quarter worth $2,948,000. Amalgamated Bank boosted its position in shares of Alkami Technology by 50.8% during the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock worth $55,000 after buying an additional 704 shares during the period. Vanguard Group Inc. boosted its position in shares of Alkami Technology by 6.7% during the first quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock worth $208,676,000 after buying an additional 501,722 shares during the period. GAMMA Investing LLC boosted its position in shares of Alkami Technology by 1,386.9% during the first quarter. GAMMA Investing LLC now owns 10,973 shares of the company's stock worth $288,000 after buying an additional 10,235 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Alkami Technology by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company's stock valued at $1,535,000 after purchasing an additional 1,166 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 20,366 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $504,262.16. Following the sale, the chief financial officer directly owned 409,889 shares in the company, valued at $10,148,851.64. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Prerna Sachdeva sold 2,967 shares of the firm's stock in a transaction 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 completion of the sale, the chief accounting officer owned 66,061 shares in the company, valued at approximately $1,635,670.36. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 1,396,162 shares of company stock worth $29,692,440 over the last ninety days. Corporate insiders own 18.10% of the company's stock.

Alkami Technology Stock Up 0.8%

NASDAQ:ALKT traded up $0.21 during midday trading on Friday, reaching $25.23. The company had a trading volume of 1,159,280 shares, compared to its average volume of 1,537,405. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -66.39 and a beta of 0.58. The stock's fifty day simple moving average is $25.76 and its 200-day simple moving average is $26.95. Alkami Technology, Inc. has a 12-month low of $19.94 and a 12-month 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.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. began coverage on Alkami Technology in a report on Wednesday, June 18th. They issued 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 stock. According to MarketBeat, Alkami Technology has an average rating of "Moderate Buy" and a consensus target price of $39.25.

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.