Trust Point Inc. trimmed its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 47.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,303 shares of the company's stock after selling 13,976 shares during the period. Trust Point Inc.'s holdings in Alkami Technology were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in Alkami Technology by 5,747.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock valued at $99,305,000 after purchasing an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC acquired a new stake in Alkami Technology in the fourth quarter valued at approximately $78,878,000. Champlain Investment Partners LLC acquired a new stake in Alkami Technology in the fourth quarter valued at approximately $57,772,000. Invesco Ltd. grew its holdings in Alkami Technology by 353.1% in the fourth quarter. Invesco Ltd. now owns 1,456,136 shares of the company's stock valued at $53,411,000 after purchasing an additional 1,134,746 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Alkami Technology by 278.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company's stock valued at $52,649,000 after purchasing an additional 1,055,828 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have commented on ALKT shares. Lake Street Capital dropped their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays reduced their price objective on Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC lowered their price target on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JMP Securities restated a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. started coverage on Alkami Technology in a research report on Wednesday. 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.25.
Check Out Our Latest Analysis on ALKT
Alkami Technology Trading Down 1.4%
Shares of Alkami Technology stock traded down $0.39 during trading hours on Friday, reaching $27.95. The stock had a trading volume of 1,371,897 shares, compared to its average volume of 883,453. The firm has a 50 day simple moving average of $28.11 and a two-hundred day simple moving average of $30.86. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -73.55 and a beta of 0.58. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 1.23. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29.
Insider Activity at Alkami Technology
In other news, Director Joseph P. Payne bought 8,200 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of $30.46 per share, for a total transaction of $249,772.00. Following the transaction, the director now owns 21,128 shares in the company, valued at $643,558.88. The trade was a 63.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO W Bryan Hill sold 20,365 shares of the firm's stock in a transaction that occurred on 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 approximately $12,202,031.80. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,690 shares of company stock worth $785,288. 18.10% of the stock is currently owned by company insiders.
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.
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