Diversified Trust Co Purchases New Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Diversified Trust Co acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 16,216 shares of the company's stock, valued at approximately $595,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALKT. nVerses Capital LLC grew its position in shares of Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock valued at $114,000 after purchasing an additional 500 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of 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 acquiring an additional 631 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Alkami Technology by 12.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company's stock worth $193,000 after acquiring an additional 691 shares during the period. Park Place Capital Corp acquired a new position in shares of Alkami Technology during the 3rd quarter valued at about $28,000. Finally, Blue Trust Inc. grew 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 during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

Insider Activity

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the transaction, the chief financial officer now directly owns 471,403 shares of the company's stock, valued at approximately $17,116,642.93. This trade represents a 17.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the completion of the sale, the director now directly owns 12,680,049 shares of the company's stock, valued at $475,501,837.50. The trade was a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,417,380 shares of company stock worth $248,273,935. Corporate insiders own 38.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALKT. Barclays raised their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. JMP Securities boosted their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a report on Tuesday, October 29th. Needham & Company LLC raised their target price on Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Alkami Technology Stock Down 4.9 %

Shares of NASDAQ ALKT traded down $1.77 during midday trading on Friday, hitting $34.15. 736,727 shares of the company's stock were exchanged, compared to its average volume of 558,805. The company has a market cap of $3.43 billion, a PE ratio of -72.66 and a beta of 0.48. Alkami Technology, Inc. has a twelve month low of $22.65 and a twelve month high of $42.29. 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 simple moving average is $38.21 and its 200-day simple moving average is $34.43.

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.