Alkami Technology, Inc. $ALKT Shares Bought by PDT Partners LLC

Key Points

• PDT Partners LLC increased its ownership in Alkami Technology, Inc. by 63.9% to a total of 148,111 shares, which is valued at approximately $3.89 million.
• Director Atlantic Genpar acquired 650,000 shares of Alkami Technology for approximately $13.45 million, raising their ownership by 6.11%.
• JPMorgan Chase has initiated coverage of Alkami Technology with an overweight rating and a target price of $40.00, suggesting potential growth for the stock.

PDT Partners LLC lifted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 63.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,111 shares of the company's stock after buying an additional 57,756 shares during the period. PDT Partners LLC owned approximately 0.14% of Alkami Technology worth $3,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perkins Coie Trust Co lifted its stake in shares of Alkami Technology by 62.5% during 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 during the period. Versant Capital Management Inc acquired a new stake in shares of Alkami Technology during the first quarter worth $36,000. Amalgamated Bank lifted its stake 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. Summit Securities Group LLC acquired a new stake in shares of Alkami Technology during the first quarter worth $59,000. Finally, NBC Securities Inc. lifted its stake in shares of Alkami Technology by 114,550.0% during the first quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock worth $60,000 after buying an additional 2,291 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alkami Technology news, CAO Prerna Sachdeva sold 2,967 shares of the company's stock in a transaction dated 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Atlantic Genpar (Bermu General acquired 650,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $20.70 per share, with a total value of $13,455,000.00. Following the transaction, the director owned 11,287,274 shares of the company's stock, valued at approximately $233,646,571.80. This trade represents a 6.11% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,396,162 shares of company stock worth $29,692,440. Company insiders own 18.10% of the company's stock.

Alkami Technology Price Performance

Shares of Alkami Technology stock traded up $0.21 during trading hours on Friday, reaching $25.23. The stock had a trading volume of 1,159,280 shares, compared to its average volume of 1,523,621. The stock's 50 day moving average is $25.76 and its 200 day moving average is $26.91. The firm has a market capitalization of $2.63 billion, a PE ratio of -66.39 and a beta of 0.58. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve 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 Analyst Weigh In

Separately, 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 target on the stock. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

Alkami Technology 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.