Charles Schwab Investment Management Inc. increased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 29.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 534,375 shares of the company's stock after purchasing an additional 120,845 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.53% of Alkami Technology worth $16,854,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in ALKT. Intech Investment Management LLC bought a new stake in shares of Alkami Technology in the third quarter worth about $387,000. Advisors Asset Management Inc. boosted its stake in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after buying an additional 631 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Alkami Technology by 108.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company's stock valued at $1,719,000 after acquiring an additional 28,395 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Alkami Technology in the 3rd quarter worth about $1,115,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Alkami Technology during the 3rd quarter worth about $1,860,000. 54.97% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alkami Technology
In other news, CFO W Bryan Hill sold 99,755 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $41.89, for a total transaction of $4,178,736.95. Following the transaction, the chief financial officer now owns 371,648 shares in the company, valued at $15,568,334.72. This represents a 21.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of Alkami Technology stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares of the company's stock, valued at $31,422,158.25. This trade represents a 3.45 % 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 over the last quarter. Insiders own 38.00% of the company's stock.
Alkami Technology Stock Up 2.6 %
Shares of NASDAQ:ALKT traded up $1.01 during trading hours on Friday, hitting $40.40. The company's stock had a trading volume of 1,269,948 shares, compared to its average volume of 1,251,403. 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 firm's fifty day moving average price is $36.82 and its 200 day moving average price is $32.49. Alkami Technology, Inc. has a 52 week low of $21.19 and a 52 week high of $42.29. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of -85.96 and a beta of 0.46.
Analysts Set New Price Targets
A number of research analysts have recently commented on ALKT shares. The Goldman Sachs Group upped their target price on Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Barclays increased their target price 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. Needham & Company LLC boosted 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. Craig Hallum upped their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, JMP Securities lifted their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.13.
View Our Latest Analysis on ALKT
About Alkami Technology
(
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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