ArrowMark Colorado Holdings LLC Cuts Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

ArrowMark Colorado Holdings LLC reduced its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 520,907 shares of the company's stock after selling 19,029 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.52% of Alkami Technology worth $16,429,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Park Place Capital Corp purchased a new stake in shares of Alkami Technology in the third quarter worth $28,000. Advisors Asset Management Inc. increased its stake in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after buying an additional 631 shares in the last quarter. Blue Trust Inc. raised its holdings in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after acquiring an additional 1,014 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Alkami Technology in the second quarter valued at about $40,000. Finally, Perkins Coie Trust Co bought a new position in shares of Alkami Technology in the second quarter worth about $85,000. 54.97% of the stock is owned by institutional investors.

Alkami Technology Stock Performance

ALKT stock traded up $0.39 during mid-day trading on Tuesday, reaching $38.45. 384,112 shares of the stock traded hands, compared to its average volume of 524,168. Alkami Technology, Inc. has a one year low of $21.19 and a one year 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. The business has a 50-day moving average price of $35.99 and a two-hundred day moving average price of $32.12.

Wall Street Analyst Weigh In

ALKT has been the subject of several recent analyst reports. JMP Securities upped their price target 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. The Goldman Sachs Group lifted their price target 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. Craig Hallum raised their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Barclays raised their price target on Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.44.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 99,755 shares of the business's stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 371,648 shares of the company's stock, valued at approximately $15,568,334.72. The trade was a 21.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction dated 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 sale, the director now owns 9,680,049 shares of the company's stock, valued at $384,781,947.75. The trade was a 23.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,360,428 shares of company stock valued at $244,916,568. Company insiders own 25.90% 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.