Alkami Technology, Inc. (NASDAQ:ALKT) Shares Purchased by Fmr LLC

FMR LLC lifted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,523,747 shares of the company's stock after buying an additional 141,319 shares during the quarter. FMR LLC owned approximately 1.52% of Alkami Technology worth $48,059,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Trust Point Inc. acquired a new position in Alkami Technology in the 3rd quarter valued at $1,029,000. Oppenheimer Asset Management Inc. purchased a new stake in Alkami Technology in the 3rd quarter valued at $1,860,000. Fifth Third Wealth Advisors LLC purchased a new stake in Alkami Technology in the 3rd quarter valued at $1,115,000. Principal Financial Group Inc. purchased a new stake in Alkami Technology in the 3rd quarter valued at $875,000. Finally, Driehaus Capital Management LLC grew its holdings in shares of Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company's stock worth $31,080,000 after purchasing an additional 392,483 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 17,807 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.37, for a total value of $683,254.59. Following the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $13,576,879.17. This trade represents a 4.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Bohanon sold 15,491 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.37, for a total value of $594,389.67. Following the completion of the transaction, the insider now owns 358,204 shares in the company, valued at $13,744,287.48. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,360,184 shares of company stock worth $245,134,620 in the last quarter. 38.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. JMP Securities raised their target price on Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a report on Tuesday, October 29th. Needham & Company LLC increased their price target on Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Barclays increased their price target on Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Finally, Craig Hallum raised their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $39.13.

Alkami Technology Stock Performance

NASDAQ:ALKT traded up $1.01 during mid-day trading on Friday, reaching $40.40. 1,269,948 shares of the stock were exchanged, compared to its average volume of 1,251,403. The company has a 50 day simple moving average of $36.82 and a 200-day simple moving average of $32.49. The stock has a market capitalization of $4.06 billion, a P/E ratio of -85.96 and a beta of 0.46. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1 year low of $21.19 and a 1 year high of $42.29.

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.