54,893 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd purchased a new stake of 54,893 shares in Alkami Technology, Inc., valued at approximately $1.44 million, representing about 0.05% of the company.
• Hedge funds have significantly increased their holdings in Alkami Technology, with Alliancebernstein L.P. growing its position by 5,747% and other firms acquiring substantial stakes during the last quarter.
• Analysts have a consensus rating of "Moderate Buy" for Alkami Technology, with an average price target of $39.25, while several have recently adjusted their price targets downward.

XTX Topco Ltd bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 54,893 shares of the company's stock, valued at approximately $1,441,000. XTX Topco Ltd owned about 0.05% of Alkami Technology at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company's stock worth $273,187,000 after buying an additional 843,129 shares in the last quarter. Alliancebernstein L.P. raised its position in Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company's stock worth $99,305,000 after purchasing an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC purchased a new position in shares of Alkami Technology in the fourth quarter valued at about $78,878,000. Driehaus Capital Management LLC raised its stake in Alkami Technology by 16.7% in the fourth quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company's stock worth $76,787,000 after buying an additional 299,728 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Alkami Technology by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company's stock valued at $66,457,000 after purchasing an additional 6,970 shares in the last quarter. Institutional investors own 54.97% of the company's stock.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 20,365 shares of the stock in a transaction on Monday, June 2nd. The shares were 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 of the company's stock, valued at $12,202,031.80. This represents a 4.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph P. Payne acquired 8,200 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders sold a total of 27,690 shares of company stock valued at $785,288 in the last three months. Insiders own 18.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Lake Street Capital cut their target price on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Barclays decreased their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. began coverage on shares of Alkami Technology in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price target on the stock. JMP Securities reiterated a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a report on Thursday, May 1st. Finally, Needham & Company LLC reduced 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.25.

Alkami Technology Trading Down 1.1%

Shares of ALKT stock traded down $0.24 on Tuesday, reaching $22.06. The company had a trading volume of 613,580 shares, compared to its average volume of 1,147,974. Alkami Technology, Inc. has a 12 month low of $20.42 and a 12 month high of $42.29. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average of $28.41 and a 200-day moving average of $28.79. The stock has a market cap of $2.30 billion, a PE ratio of -58.03 and a beta of 0.57.

Alkami Technology Company 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.