Alkami Technology, Inc. (NASDAQ:ALKT) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 108.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,494 shares of the company's stock after purchasing an additional 28,395 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Alkami Technology worth $1,719,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ALKT. Park Place Capital Corp bought a new position in shares of Alkami Technology in the third quarter valued at $28,000. Blue Trust Inc. increased its holdings in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after purchasing an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Alkami Technology in the 2nd quarter worth $40,000. Perkins Coie Trust Co acquired a new stake in Alkami Technology in the second quarter worth $85,000. Finally, Covestor Ltd lifted its holdings in shares of Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company's stock valued at $85,000 after purchasing an additional 2,646 shares in the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alkami Technology

In other news, insider Stephen Bohanon sold 35,893 shares of Alkami Technology stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the sale, the insider now owns 403,786 shares of the company's stock, valued at approximately $13,567,209.60. The trade was a 8.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alex Shootman sold 37,758 shares of the 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 transaction, the chief executive officer now directly owns 1,056,207 shares of the company's stock, valued at $31,422,158.25. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,296,566 shares of company stock valued at $122,693,836 in the last ninety days. Corporate insiders own 25.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on ALKT. JMP Securities upped their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a research note on Tuesday, October 29th. Needham & Company LLC increased their price target on Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Lake Street Capital boosted their price objective on Alkami Technology from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Craig Hallum increased their target price on Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Alkami Technology has an average rating of "Moderate Buy" and a consensus target price of $37.44.

Alkami Technology Trading Down 6.0 %

ALKT traded down $2.53 during trading hours on Tuesday, reaching $39.69. 1,968,854 shares of the company's stock traded hands, compared to its average volume of 521,784. The firm has a 50-day moving average price of $35.34 and a 200 day moving average price of $31.73. The firm has a market capitalization of $3.99 billion, a PE ratio of -84.45 and a beta of 0.43. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 52-week low of $21.19 and a 52-week high of $42.29.

About Alkami Technology

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.