Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by Long Path Partners LP

Long Path Partners LP lessened its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 70.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,748 shares of the company's stock after selling 491,741 shares during the period. Alkami Technology comprises about 2.2% of Long Path Partners LP's holdings, making the stock its 9th largest holding. Long Path Partners LP owned approximately 0.21% of Alkami Technology worth $6,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ALKT. nVerses Capital LLC boosted its position in Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock valued at $114,000 after acquiring an additional 500 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Alkami Technology by 117.9% during the third 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. Harbor Capital Advisors Inc. grew its stake in Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company's stock worth $193,000 after purchasing an additional 691 shares during the period. Park Place Capital Corp bought a new position in Alkami Technology in the third quarter worth $28,000. Finally, Blue Trust Inc. raised its holdings in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock worth $38,000 after purchasing an additional 1,014 shares in the last quarter. Institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Up 5.0 %

Shares of ALKT traded up $1.95 during mid-day trading on Friday, reaching $40.69. The company's stock had a trading volume of 1,226,685 shares, compared to its average volume of 1,063,774. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a 12-month low of $21.19 and a 12-month high of $41.36. The company's 50 day moving average is $35.10 and its 200 day moving average is $31.62. The stock has a market cap of $4.09 billion, a PE ratio of -86.57 and a beta of 0.43.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALKT. 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. The Goldman Sachs Group raised their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Craig Hallum raised their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Lake Street Capital boosted their price target on Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, JMP Securities raised their price objective on 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $37.44.

Insider Activity

In other news, CFO W Bryan Hill sold 69,511 shares of Alkami Technology stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total transaction of $2,317,496.74. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at $16,314,595.60. The trade was a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total value of $199,186.78. Following the completion of the sale, the insider now owns 248,585 shares of the company's stock, valued at $9,451,201.70. This trade represents a 2.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,366,077 shares of company stock valued at $125,011,332 over the last quarter. 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.