Swiss National Bank Acquires 19,500 Shares of Alkami Technology, Inc. $ALKT

Key Points

• The Swiss National Bank increased its stake in Alkami Technology, Inc. by 18.2%, owning a total of 126,600 shares worth approximately $3,323,000 after purchasing an additional 19,500 shares.
• Several hedge funds have also adjusted their positions, with Perkins Coie Trust Co raising their holdings by 62.5% and new investors entering the market, highlighting growing institutional interest in the company.
• Analysts maintain a consensus rating of “Moderate Buy” for Alkami Technology, with a target price of $39.25, indicating confidence in the company's future performance.

Swiss National Bank lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 18.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,600 shares of the company's stock after purchasing an additional 19,500 shares during the period. Swiss National Bank owned 0.12% of Alkami Technology worth $3,323,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALKT. Wells Fargo & Company MN increased its stake in shares of Alkami Technology by 71.3% in the 4th quarter. Wells Fargo & Company MN now owns 30,805 shares of the company's stock worth $1,130,000 after purchasing an additional 12,827 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Alkami Technology during the 4th quarter valued at about $203,000. Raymond James Financial Inc. purchased a new position in shares of Alkami Technology during the 4th quarter valued at about $1,133,000. Barclays PLC lifted its position in shares of Alkami Technology by 2.4% during the 4th quarter. Barclays PLC now owns 97,716 shares of the company's stock valued at $3,584,000 after buying an additional 2,325 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of Alkami Technology by 25.3% during the 4th quarter. Mariner LLC now owns 8,080 shares of the company's stock valued at $296,000 after buying an additional 1,630 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 229,391 shares of Alkami Technology stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $22.44 per share, for a total transaction of $5,147,534.04. Following the acquisition, the director directly owned 12,033,436 shares in the company, valued at approximately $270,030,303.84. This represents a 1.94% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 20,365 shares of the business's stock in a transaction dated 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 owned 430,255 shares in the company, valued at approximately $12,202,031.80. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,396,162 shares of company stock worth $29,692,440 and have sold 27,690 shares worth $785,288. Insiders own 18.10% of the company's stock.

Alkami Technology Price Performance

NASDAQ:ALKT traded down $0.39 during trading hours on Monday, reaching $24.89. The stock had a trading volume of 1,861,961 shares, compared to its average volume of 1,213,089. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. Alkami Technology, Inc. has a 52 week low of $19.94 and a 52 week high of $42.29. The company has a 50 day moving average price of $26.48 and a two-hundred day moving average price of $27.48. The stock has a market capitalization of $2.59 billion, a PE ratio of -65.50 and a beta of 0.57.

Analyst Ratings Changes

ALKT has been the topic of a number of analyst reports. JPMorgan Chase & Co. started coverage on Alkami Technology in a research report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price objective on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Needham & Company LLC dropped their target price 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. Finally, Lake Street Capital dropped their target price on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Alkami Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.25.

About Alkami Technology

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.