Barclays PLC Acquires 49,580 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Barclays PLC raised its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 108.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 95,391 shares of the company's stock after purchasing an additional 49,580 shares during the quarter. Barclays PLC owned approximately 0.09% of Alkami Technology worth $3,009,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ALKT. Park Place Capital Corp bought a new stake in shares of Alkami Technology during the 3rd quarter valued at about $28,000. Advisors Asset Management Inc. lifted its stake in Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock valued at $37,000 after buying an additional 631 shares during the period. Blue Trust Inc. boosted its holdings in shares of Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock worth $38,000 after buying an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology during the 2nd quarter worth approximately $40,000. Finally, Covestor Ltd increased its stake in shares of Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company's stock valued at $85,000 after acquiring an additional 2,646 shares in the last quarter. Institutional investors own 54.97% of the company's stock.

Insiders Place Their Bets

In other news, insider Douglas A. Linebarger sold 5,239 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.02, for a total transaction of $199,186.78. Following the transaction, the insider now directly owns 248,585 shares in the company, valued at approximately $9,451,201.70. This represents a 2.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO W Bryan Hill sold 100,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $36.31, for a total value of $3,631,000.00. Following the completion of the sale, the chief financial officer now owns 471,403 shares of the company's stock, valued at $17,116,642.93. The trade was a 17.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,417,380 shares of company stock worth $248,273,935 in the last ninety days. 38.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays increased their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. JMP Securities raised their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a research note on Tuesday, October 29th. Craig Hallum boosted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC upped their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.88.

Alkami Technology Price Performance

Shares of ALKT traded up $0.70 during midday trading on Tuesday, hitting $39.63. 235,123 shares of the company traded hands, compared to its average volume of 545,694. Alkami Technology, Inc. has a one year low of $22.62 and a one year high of $42.29. The firm has a market cap of $3.98 billion, a P/E ratio of -84.32 and a beta of 0.46. 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 stock has a 50-day moving average of $38.22 and a 200-day moving average of $33.41.

Alkami Technology 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.