Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lowered its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,686,491 shares of the company's stock after selling 203,701 shares during the quarter. Riverbridge Partners LLC owned 1.64% of Alkami Technology worth $44,270,000 as of its most recent SEC filing.

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

Alkami Technology Stock Up 4.0%

Shares of ALKT stock traded up $1.11 during mid-day trading on Monday, hitting $29.06. The stock had a trading volume of 1,146,299 shares, compared to its average volume of 884,508. Alkami Technology, Inc. has a 12-month low of $21.70 and a 12-month high of $42.29. The firm has a market capitalization of $2.99 billion, a P/E ratio of -76.47 and a beta of 0.58. The firm's 50-day moving average is $28.20 and its two-hundred day moving average is $30.72. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.75 and a quick ratio of 2.75.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ALKT shares. Needham & Company LLC dropped their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Stephens upgraded Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a report on Thursday, March 13th. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. JMP Securities reiterated a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. initiated 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Alkami Technology currently has an average rating of "Moderate Buy" and a consensus target price of $39.25.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 20,365 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $577,551.40. Following the completion of the sale, the chief financial officer now directly owns 430,255 shares in the company, valued at $12,202,031.80. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Douglas A. Linebarger sold 7,170 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $203,341.20. Following the sale, the insider now owns 238,172 shares of the company's stock, valued at $6,754,557.92. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,690 shares of company stock worth $785,288 in the last three months. 18.10% of the stock is owned by insiders.

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.