Public Employees Retirement System of Ohio Boosts Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Public Employees Retirement System of Ohio increased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 18.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,759 shares of the company's stock after buying an additional 12,952 shares during the quarter. Public Employees Retirement System of Ohio owned 0.08% of Alkami Technology worth $3,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in shares of Alkami Technology by 5,747.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock worth $99,305,000 after buying an additional 2,661,027 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Alkami Technology during the 4th quarter worth about $78,878,000. Champlain Investment Partners LLC acquired a new position in shares of Alkami Technology during the 4th quarter worth about $57,772,000. Invesco Ltd. lifted its position in shares of Alkami Technology by 353.1% during the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company's stock worth $53,411,000 after purchasing an additional 1,134,746 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Alkami Technology by 278.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company's stock worth $52,649,000 after purchasing an additional 1,055,828 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Performance

NASDAQ:ALKT traded up $1.12 during mid-day 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. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -63.96 and a beta of 0.56. The company's 50 day simple moving average is $27.14 and its 200 day simple moving average is $31.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Lake Street Capital lowered their price target on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price target on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group lowered their price objective on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Finally, Needham & Company LLC lowered their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Insider Activity

In related news, CFO W Bryan Hill sold 20,365 shares of Alkami Technology stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $577,551.40. Following the transaction, the chief financial officer now directly owns 430,255 shares of the company's stock, valued at $12,202,031.80. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph P. Payne acquired 8,200 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the purchase, the director now directly owns 21,128 shares of the company's stock, valued at $643,558.88. The trade was a 63.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 27,690 shares of company stock worth $785,288. Corporate insiders own 18.10% of the company's stock.

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.