HighTower Advisors LLC bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,448 shares of the company's stock, valued at approximately $647,000.
Several other hedge funds and other institutional investors have also made changes to their positions in ALKT. Park Place Capital Corp purchased a new position in Alkami Technology in the third quarter worth $28,000. Advisors Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 631 shares in the last quarter. Blue Trust Inc. lifted its stake 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 valued at $38,000 after purchasing an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology in the second quarter valued at about $40,000. Finally, Covestor Ltd boosted its holdings 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 buying an additional 2,646 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.
Insider Buying and Selling
In other news, CFO W Bryan Hill sold 99,755 shares of Alkami Technology stock in a transaction on Monday, November 25th. The stock was sold at an average price of $41.89, for a total value of $4,178,736.95. Following the completion of the sale, the chief financial officer now owns 371,648 shares of the company's stock, valued at $15,568,334.72. The trade was a 21.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $119,250,000.00. Following the transaction, the director now owns 9,680,049 shares in the company, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,472,426 shares of company stock worth $249,990,820. 25.90% of the stock is owned by corporate insiders.
Alkami Technology Price Performance
Shares of NASDAQ ALKT traded up $0.45 during trading on Friday, reaching $39.12. The company had a trading volume of 1,432,549 shares, compared to its average volume of 547,711. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a twelve month low of $22.62 and a twelve month high of $42.29. The stock has a 50-day moving average price of $38.02 and a two-hundred day moving average price of $33.16. The stock has a market capitalization of $3.93 billion, a PE ratio of -83.23 and a beta of 0.46.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on ALKT. JPMorgan Chase & Co. increased their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, December 9th. The Goldman Sachs Group raised their price objective on Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. JMP Securities boosted their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a research report on Tuesday, October 29th. Needham & Company LLC upped their target price on Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Barclays lifted their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.88.
Check Out Our Latest Stock Report on ALKT
Alkami Technology Company Profile
(
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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