Teacher Retirement System of Texas bought a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,448 shares of the company's stock, valued at approximately $248,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Perkins Coie Trust Co raised 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 valued at $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 valued at about $36,000. Amalgamated Bank raised 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 valued at $55,000 after purchasing an additional 704 shares in the last quarter. NBC Securities Inc. raised 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 valued at $60,000 after purchasing an additional 2,291 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Alkami Technology during the fourth quarter valued at about $61,000. 54.97% of the stock is currently owned by institutional investors.
Alkami Technology Trading Down 0.2%
ALKT traded down $0.05 during trading on Tuesday, reaching $28.17. The company had a trading volume of 257,183 shares, compared to its average volume of 927,892. 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 12-month low of $21.70 and a 12-month high of $42.29. The firm's 50-day simple moving average is $29.36 and its 200 day simple moving average is $29.51. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -74.00 and a beta of 0.59.
Insider Buying and Selling at Alkami Technology
In other Alkami Technology news, Director Joseph P. Payne bought 8,200 shares of the stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $30.46 per share, with a total value of $249,772.00. Following the purchase, the director directly owned 21,128 shares in the company, valued at $643,558.88. The trade was a 63.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 20,365 shares of Alkami Technology stock in a transaction dated 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 directly owned 430,255 shares in the company, valued at approximately $12,202,031.80. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,690 shares of company stock valued at $785,288 in the last 90 days. 18.10% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Lake Street Capital lowered their target price on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC lowered their target price on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays lowered their target price on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. assumed coverage on Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $39.25.
Check Out Our Latest Stock Report on Alkami Technology
Alkami Technology Profile
(
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.
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