The Manufacturers Life Insurance Company Sells 81,690 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

The Manufacturers Life Insurance Company decreased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 8.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 862,806 shares of the company's stock after selling 81,690 shares during the period. The Manufacturers Life Insurance Company owned about 0.86% of Alkami Technology worth $27,213,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ALKT. Vanguard Group Inc. raised its holdings in Alkami Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company's stock worth $114,264,000 after purchasing an additional 88,390 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Alkami Technology by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company's stock worth $44,719,000 after acquiring an additional 181,194 shares in the last quarter. Driehaus Capital Management LLC lifted its position in Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company's stock valued at $31,080,000 after acquiring an additional 392,483 shares during the period. Dimensional Fund Advisors LP boosted its stake in Alkami Technology by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company's stock worth $30,002,000 after acquiring an additional 120,468 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alkami Technology by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company's stock worth $16,854,000 after purchasing an additional 120,845 shares during the period. Institutional investors own 54.97% of the company's stock.

Wall Street Analyst Weigh In

ALKT has been the subject of several recent research reports. Craig Hallum lifted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Barclays boosted 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. The Goldman Sachs Group lifted 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. Needham & Company LLC upped their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, JMP Securities lifted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.44.

Alkami Technology Stock Performance

ALKT stock traded up $0.19 during midday trading on Friday, reaching $39.47. 330,679 shares of the company's stock traded hands, compared to its average volume of 522,103. The stock's 50-day moving average is $35.99 and its 200 day moving average is $32.08. The stock has a market cap of $3.97 billion, a P/E ratio of -83.98 and a beta of 0.43. Alkami Technology, Inc. has a 52-week low of $21.19 and a 52-week high of $42.29. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Insider Transactions at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction on Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the transaction, the director now owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. The trade was a 23.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Bohanon sold 15,605 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $31.59, for a total transaction of $492,961.95. Following the completion of the transaction, the insider now directly owns 388,181 shares of the company's stock, valued at $12,262,637.79. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,360,428 shares of company stock worth $244,916,568 in the last three months. Corporate insiders own 38.00% of the company's stock.

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.