Riverbridge Partners LLC decreased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,686,491 shares of the company's stock after selling 203,701 shares during the period. Riverbridge Partners LLC owned about 1.64% of Alkami Technology worth $44,270,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of ALKT. Essex Investment Management Co. LLC bought a new stake in Alkami Technology during the 4th quarter worth approximately $34,000. Perkins Coie Trust Co boosted its stake in 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 purchasing an additional 500 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Alkami Technology during the first quarter worth $36,000. Quarry LP acquired a new stake in shares of Alkami Technology in the fourth quarter valued at $61,000. Finally, NBC Securities Inc. raised its holdings in shares of Alkami Technology by 114,550.0% in the first quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock valued at $60,000 after buying an additional 2,291 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.
Insider Buying and Selling
In other Alkami Technology news, CFO W Bryan Hill sold 20,365 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 7,170 shares of the firm's stock in a transaction dated 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 directly owns 238,172 shares in the company, valued at approximately $6,754,557.92. This represents a 2.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,690 shares of company stock valued at $785,288 in the last 90 days. 18.10% of the stock is owned by insiders.
Alkami Technology Trading Down 1.4%
NASDAQ:ALKT traded down $0.39 during mid-day trading on Friday, hitting $27.95. The company had a trading volume of 1,371,897 shares, compared to its average volume of 881,756. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.75 and a current ratio of 2.75. Alkami Technology, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $42.29. The firm has a market cap of $2.88 billion, a P/E ratio of -73.55 and a beta of 0.58. The business's fifty day moving average is $28.04 and its two-hundred day moving average is $30.99.
Analyst Upgrades and Downgrades
ALKT has been the topic of a number of research analyst reports. Stephens raised shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective on the stock in a report on Thursday, March 13th. Barclays decreased their price target on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC lowered their price target on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. started coverage on Alkami Technology in a report on Wednesday. They set an "overweight" rating and a $40.00 price objective on the stock. Finally, 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 research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Alkami Technology has a consensus rating of "Moderate Buy" and a consensus price target of $39.25.
Check Out Our Latest Stock Analysis on Alkami Technology
About Alkami Technology
(
Free Report)
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.
See Also
Before you consider Alkami Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alkami Technology wasn't on the list.
While Alkami Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
