Geode Capital Management LLC Has $38.87 Million Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Geode Capital Management LLC lifted its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 16.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,231,987 shares of the company's stock after purchasing an additional 173,394 shares during the period. Geode Capital Management LLC owned 1.23% of Alkami Technology worth $38,865,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ALKT. Massachusetts Financial Services Co. MA raised its position in shares of Alkami Technology by 13.0% during the second 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 during the last quarter. FMR LLC raised its holdings in Alkami Technology by 10.2% during the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company's stock worth $48,059,000 after purchasing an additional 141,319 shares during 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 purchasing an additional 392,483 shares during the period. State Street Corp boosted its stake in shares of Alkami Technology by 5.1% in the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company's stock valued at $34,328,000 after purchasing an additional 52,699 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Alkami Technology by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company's stock worth $30,002,000 after buying an additional 120,468 shares during the period. Institutional investors own 54.97% of the company's stock.

Alkami Technology Trading Up 1.8 %

Shares of Alkami Technology stock traded up $0.70 during trading hours on Wednesday, hitting $39.63. The company's stock had a trading volume of 235,123 shares, compared to its average volume of 545,694. Alkami Technology, Inc. has a 12 month low of $22.62 and a 12 month high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The company has a market capitalization of $3.98 billion, a PE ratio of -84.32 and a beta of 0.46. The stock has a 50 day moving average of $38.34 and a 200 day moving average of $33.50.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the sale, the insider now owns 191,668 shares of the company's stock, valued at approximately $7,676,303.40. This trade represents a 20.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the sale, the chief financial officer now owns 353,841 shares in the company, valued at $14,072,256.57. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,417,380 shares of company stock valued at $248,273,935. 38.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ALKT shares. The Goldman Sachs Group increased their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, November 1st. 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 note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Needham & Company LLC increased their target price on 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 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Alkami Technology presently has an average rating of "Moderate Buy" and an average target price of $40.88.

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.