Algert Global LLC Has $6.40 Million Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Algert Global LLC grew its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 102.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,947 shares of the company’s stock after purchasing an additional 102,799 shares during the quarter. Algert Global LLC owned about 0.20% of Alkami Technology worth $6,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. nVerses Capital LLC lifted its stake in shares of Alkami Technology by 16.1% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares during the period. Advisors Asset Management Inc. increased its position in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after buying an additional 691 shares in the last quarter. Park Place Capital Corp bought a new stake in Alkami Technology in the 3rd quarter valued at about $28,000. Finally, Blue Trust Inc. increased its position in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares in the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alkami Technology

In related news, insider Stephen Bohanon sold 35,893 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80. Following the transaction, the insider now owns 403,786 shares in the company, valued at approximately $13,567,209.60. This represents a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,366,077 shares of company stock worth $125,011,332. Insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

ALKT stock opened at $40.69 on Friday. Alkami Technology, Inc. has a 12-month low of $21.19 and a 12-month high of $41.36. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $35.10 and a 200-day moving average of $31.59. The firm has a market cap of $4.09 billion, a PE ratio of -86.57 and a beta of 0.43.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALKT. Needham & Company LLC boosted their target price on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Craig Hallum boosted their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities boosted their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Finally, Lake Street Capital boosted their price objective on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

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.