Alkami Technology, Inc. $ALKT Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Alkami Technology by 6.7%, acquiring an additional 501,722 shares, bringing its total ownership to 7,949,573 shares worth approximately $208.68 million.
• Several other institutional investors also adjusted their positions in Alkami Technology, with NBC Securities significantly increasing its stake by over 114,550% during the first quarter.
• Alkami Technology's shares currently have a consensus rating of "Moderate Buy," with six analysts rating the stock as a Buy and an average price target of $39.25.

Vanguard Group Inc. increased its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 6.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,949,573 shares of the company's stock after purchasing an additional 501,722 shares during the period. Vanguard Group Inc. owned 7.72% of Alkami Technology worth $208,676,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. US Bancorp DE lifted its holdings in Alkami Technology by 7.4% in the first quarter. US Bancorp DE now owns 12,229 shares of the company's stock worth $321,000 after acquiring an additional 841 shares during the last quarter. XTX Topco Ltd bought a new position in Alkami Technology in the first quarter worth about $1,441,000. Algebris UK Ltd bought a new position in Alkami Technology in the first quarter worth about $3,111,000. Mackenzie Financial Corp lifted its holdings in Alkami Technology by 40.5% in the first quarter. Mackenzie Financial Corp now owns 37,246 shares of the company's stock worth $978,000 after acquiring an additional 10,737 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in Alkami Technology by 38.9% in the first quarter. Royce & Associates LP now owns 298,542 shares of the company's stock worth $7,837,000 after acquiring an additional 83,532 shares during the last quarter. Institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT traded down $0.39 during midday trading on Monday, hitting $24.89. 1,861,976 shares of the company's stock were exchanged, compared to its average volume of 1,958,709. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.68 and a quick ratio of 2.68. The stock's 50 day moving average price is $26.44 and its 200-day moving average price is $27.41. The firm has a market cap of $2.59 billion, a P/E ratio of -65.50 and a beta of 0.57. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALKT shares. Lake Street Capital cut their target price on shares of 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 cut their target price on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 target price on the stock. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.25.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 20,365 shares of the business'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 transaction of $577,551.40. Following the completion of the transaction, the chief financial officer directly owned 430,255 shares in the company, valued at approximately $12,202,031.80. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 7,170 shares of the business'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 $203,341.20. Following the transaction, the insider owned 238,172 shares of the company's stock, valued at approximately $6,754,557.92. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,396,162 shares of company stock worth $29,692,440 and sold 27,690 shares worth $785,288. Insiders own 18.10% of the company's stock.

Alkami Technology Profile

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.