Franklin Resources Inc. Has $61.36 Million Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Franklin Resources Inc. boosted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,804,825 shares of the company’s stock after purchasing an additional 75,469 shares during the quarter. Franklin Resources Inc. owned about 1.80% of Alkami Technology worth $61,364,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp bought a new position in Alkami Technology during the 3rd quarter worth $28,000. Advisors Asset Management Inc. grew its holdings in shares of Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares in the last quarter. Blue Trust Inc. increased its position in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new position in Alkami Technology in the second quarter valued at about $40,000. Finally, Covestor Ltd lifted its position in Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares during the period. Institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ALKT. Needham & Company LLC raised their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. JMP Securities boosted their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Craig Hallum raised their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barclays boosted their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and an average price target of $40.88.

Insider Activity

In other news, CFO W Bryan Hill sold 55,046 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the completion of the transaction, the chief financial officer now directly owns 471,403 shares in the company, valued at $14,703,059.57. The trade was a 10.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.50, for a total value of $14,062,500.00. Following the transaction, the director now owns 12,680,049 shares of the company’s stock, valued at approximately $475,501,837.50. The trade was a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,372,426 shares of company stock valued at $246,013,820 over the last quarter. Company insiders own 38.00% of the company’s stock.

Alkami Technology Trading Up 0.3 %

Shares of ALKT stock opened at $39.71 on Tuesday. 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 firm has a market cap of $3.99 billion, a P/E ratio of -84.49 and a beta of 0.46. The company has a 50 day moving average of $37.68 and a 200-day moving average of $33.00. Alkami Technology, Inc. has a 12-month low of $22.62 and a 12-month high of $42.29.

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.