Trexquant Investment LP Trims Holdings in Alkami Technology, Inc. $ALKT

Key Points

• Trexquant Investment LP has reduced its stake in Alkami Technology by 33.3%, now holding 158,048 shares worth approximately $4.15 million after selling 78,883 shares during the first quarter.
• Other institutional investors, like Next Century Growth Investors LLC and Champlain Investment Partners LLC, increased their holdings, with the latter boosting its position by 64.0% during the same period.
• Alkami Technology stock is currently rated as a “Moderate Buy” with an average price target of $39.25, and it opened at $25.60 on Tuesday.

Trexquant Investment LP trimmed its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,048 shares of the company's stock after selling 78,883 shares during the period. Trexquant Investment LP owned approximately 0.15% of Alkami Technology worth $4,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. George Kaiser Family Foundation bought a new position in Alkami Technology in the 1st quarter valued at $2,948,000. Amalgamated Bank grew its position in Alkami Technology by 50.8% in the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company's stock valued at $55,000 after acquiring an additional 704 shares during the last quarter. Vanguard Group Inc. grew its position in Alkami Technology by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company's stock valued at $208,676,000 after acquiring an additional 501,722 shares during the last quarter. GAMMA Investing LLC grew its position in Alkami Technology by 1,386.9% in the 1st quarter. GAMMA Investing LLC now owns 10,973 shares of the company's stock valued at $288,000 after acquiring an additional 10,235 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Alkami Technology by 2.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company's stock worth $1,535,000 after buying an additional 1,166 shares during the period. 54.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 229,391 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was bought at an average cost of $22.44 per share, for a total transaction of $5,147,534.04. Following the completion of the purchase, the director owned 12,033,436 shares in the company, valued at $270,030,303.84. This represents a 1.94% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 1,396,162 shares of company stock valued at $29,692,440 in the last three months. Company insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. started 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. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.25.

Alkami Technology Stock Up 1.0%

ALKT stock traded up $0.24 during trading on Wednesday, reaching $24.80. 904,793 shares of the company traded hands, compared to its average volume of 1,546,072. The business has a 50 day simple moving average of $25.95 and a 200 day simple moving average of $27.09. 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 12 month low of $19.94 and a 12 month high of $42.29. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -65.26 and a beta of 0.58.

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.